India Csr Initiatives For The Inclusive Development Of The Society

1836 WordsApr 28, 20178 Pages
Abstract: As Indian corporate are constantly striving to be more efficient in the competitive global business scenario, they need to become equally proactive, accountable and socially Responsible to their immediate environments. In India CSR is in a very much primary stage. Seeing to the government of India’s most desirable step towards Social welfare through economic reforms and involving well economic corporate performers by introducing a Provision of mandatory 2% CSR spending of Net Profit on August 29, 2013 through companies act 2013.keeping this provision in mind researcher has tried to analyze Comparatively & critically old provision of Voluntary disclosure and CSR spending with New Mandatory 2% CSR Spending. And title the Paper as…show more content…
Hence Corporate Social Responsibility is not a new concept in India, however, the Ministry of Corporate Affairs, Government of India has recently notified the Section 135 of the Companies Act, 2013 along with Companies (Corporate Social Responsibility Policy) Rules, 2014 "hereinafter CSR Rules" and other notifications related thereto which makes it mandatory (with effect from 1st April, 2014) for certain companies who fulfill the criteria as mentioned under Sub Section 1 of Section 135 to comply with the provisions relevant to Corporate Social Responsibility. Seeing to the time bound needed and desirable changes made by Ministry of Corporate affairs under Corporate Governance rules by targeting CSR Spending of Corporatist Paper is appropriately titled as “Voluntary V/s Mandatory CSR” Moreover, while proposing the Corporate Social Responsibility Rules under Section 135 of the Companies Act, 2013, the Chairman of the CSR Committee mentioned the Guiding Principle as follows: "CSR is the process by which an organization thinks about and evolves its relationships with stakeholders for the common good, and demonstrates its commitment in this regard by adoption of appropriate business processes and strategies. Thus CSR is not charity or mere donations. CSR is a way of conducting business, by which corporate entities visibly contribute to the
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