Asian Journal of Research in Business Economics and Management
Year : 2014, Volume : 4, Issue : 3
First page : ( 66) Last page : ( 73)
Online ISSN : 2249-7307.

The CSR - Overview of Provisions and Social Concerns

Katia Vikas

Assistant Professor, Post Graduate Department of Commerce, D.A.V. College, Bathinda, Punjab, India

Online published on 13 March, 2014.

Abstract

Indian are known for their philanthropy in the world, from ancient times people spend more money on religious ceremonies as compare to social welfare the country. After adapting a policy of liberalization, privatization and globalization corporate sector emerged in the scene of the country in big way. Companies are contributing to CSR purpose voluntarily till date, although guidelines were provided in the law. New company act which is passed in Rajya Sabha (Upper House) in August, 2013 after getting approval from Lok Sabha (Lower House) in December, 2012 provide, provisions for certain companies for compulsory contribution for the purpose of social welfare. This paper is an attempt to understand new provisions of act regarding CSR and area where companies could contribute their funds in this regard and to find out how many companies come under the preview of the act. This paper is an attempt to suggest the ways to increase the base of philanthropy in the country for social cause.

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Keywords

Corporate Social Responsibility (CSR), Philanthropy, Social welfare activities, Non government organizations (NGO).

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