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CSR@ 2%: A New Model of Corporate Social Responsibility in India

Author

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  • Anupam Singh
  • Priyanka Verma

Abstract

Corporate Social Responsibility (CSR) earlier applied as corporate philanthropy and has been in practice in India since ages. However, philanthropy in globalised and modern India does not solve the purpose in quantity and quality. Clause 135 of Company Act 2013 created huge hue and cry among the business community in India. As per clause 135 of the Companies Act, 2013, Every company with an annual turnover of 1,000 crore INR ($161 million) and more, or a net worth of 500 crore INR ($80 million) and more, or a net profit as low as five crore INR ($800,000) and more have to spend at least 2% of their average net profit over the previous three years on CSR activities. With the introduction of new Company act 2013 India became the first country in the world to have legislation for compulsory CSR spending. The paper aims at analyzing the motive of making CSR spending mandatory and it also attempts to explain the concept of CSR in the present Indian scenario, the social issues addressed by the Indian corporations, and methodologies adopted by them to address those issues.

Suggested Citation

  • Anupam Singh & Priyanka Verma, 2014. "CSR@ 2%: A New Model of Corporate Social Responsibility in India," International Journal of Academic Research in Business and Social Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Business and Social Sciences, vol. 4(10), pages 455-464, October.
    • Handle: RePEc:hur:ijarbs:v:4:y:2014:i:10:p:455-464
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    Citations

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    Cited by:

    1. Manfred Max Bergman & Zinette Bergman & Yael Teschemacher & Bimal Arora & Divya Jyoti & Rijit Sengupta, 2019. "Corporate Responsibility in India: Academic Perspectives on the Companies Act 2013," Sustainability, MDPI, vol. 11(21), pages 1-20, October.
    2. Anupam Singh & Priyanka Verma, 2018. "Driving Brand Value Through CSR Initiatives: An Empirical Study in Indian Perspective," Global Business Review, International Management Institute, vol. 19(1), pages 85-98, February.

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