CORPORATE SOCIAL RESPONSIBILITY IN THE WAKE OF COMPANIES ACT 2013: CONCEPTUAL ANALYSIS
Journal Title: International Journal of Research in Social Sciences - Year 2017, Vol 7, Issue 11
Abstract
The Concept of CSR in India is not new, but the term may be. The Process through acclaimed recently. It has been followed since ancient times informally. Philosophers likes, Kautilya and Gandhi (Ethical Model) From India preached and promoted ethical principles while doing business. During last century, CSR has moved quite a far from religious/Philanthropy to a strategy. After the Companies Act 2013, Companies have now Started reporting their CSR activities in their annual reports along with financial results, not because it has become mandatory for corporates to ensure that they spends, in any financial year, at least 2% of the average net profit, made during their immediate preceding financial years but because they have understood it well that, financial performance is entwined with good social and environment performance. This initiative is going to have two fold effects viz. , it will pay attention to various social sectors and activities including education, health, hunger poverty, gender equality and women empowerment etc. Especially in remote and under developed areas and secondly, it will ensure compulsory contribution of corporate to the society.
Authors and Affiliations
Asra Sultana
Keywords
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