Integrating Commercial Interest with Community Concerns: Analysis of India’s CSR Policy
DOI:
https://doi.org/10.69974/glskalp.01.02.52Keywords:
Corporate Social Responsibility, Companies Act 2013, Business and Society, Business Ethics, Stakeholder TheoryAbstract
A stocktaking analysis is attempted of the legally mandated CSR provisions and their practical impact on the corporate governance practices and re-orienting the corporate purpose. Along with this the benefit of stakeholder provision is now evident and creates a framework for relooking at the corporate purpose towards a more sustainable business model. The legally mandated CSR provision has led to mainstreaming the Indian thought of business and society being positively co-existing with societal welfare and well-being an end-goal for companies. Indian law and policy experiments could be considered as a significant victory in the context of using the legal tool for ethical business conduct. The analysis in the paper throws light on the fact that the present functioning of the companies displays that the legally mandated CSR provision has led to a shift in the manner corporate philanthropy is viewed by Indian companies.
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