Corporate Social Responsibility: Growth and Challenges in India Dr. Thirunavukarasu S. Head, Department of Economics, P.M.P. Arts and Science College, Dharmapuri, Tamilnadu, India Online published on 10 March, 2015. Abstract The expansion of the concept of globalization and industrialization has increased the number of corporate sectors around the world in recent times. The investors still expect to maximize their profit and assets on the other hand the public has become increasingly aware of the importance of the responsibility of corporate sectors towards society. Many of the corporate sectors fulfilling the expectations of the society, but few of them do not consider about the problems and needs of the society. It has been increased the economic insecurity, human rights abuses and environmental degradation. In 2013, the government of India have enacted the new law under the Companies Act 2013, to protect the society and to increase the social responsibilities among the corporate sectors in India. Under the Companies Act, 2013, any company having a net worth of rupees 500 crore or more or a turnover of rupees 1,000 crore or more or a net profit of rupees 5 crore or more should mandatorily spend 2% of their net profits per fiscal on CSR activities. Top Keywords Corporates, society, government, profit, investors, globalization, social responsibility. Top |