Corporate Social Responsibility: Modern and Indian Views

Corporate Social Responsibility (CSR) has attracted increasingly fashionable attention recently. Corporate Social Responsibility refers to corporations voluntarily assuming the responsibilities for the impacts of all aspects of their business activities on the whole society and the environment. The corporations, through Corporate Social Responsibility, try to help the society through development projects towards betterment of the standard of life. The practice of Corporate Social Responsibility is also not free from controversy and criticism. There are two opposing arguments: one, the corporations profit in manifold ways by spending on Corporate Social Responsibility projects; the other, Corporate Social Responsibility is criticized and opposed in that it makes the corporations deviate from their primary economic roles in doing business. The debate has not yet rested. This paper attempts to resolve this debate by highlighting the Indian views of Corporate Social Responsibility.