Saturday, November 12, 2016

Corporate Social Responsibility - nothing but Corporates just succumbing to the law of the land

Is social responsibility something to be forced? Why then companies make so much of clamor for the CSR activities that are being carried out as per the law of the country and looking out for all possible publicity? Why do they need publicity to follow certain law in order to do business in this country?

The first country in the world to enforce Corporate Social Responsibility (CSR)  is India, following an amendment to the Companies Act, 2013 in April 2014. As per the law envisaged, the Corporates can invest their profits in areas such as education, poverty, gender equality, and hunger as part of any CSR compliance.