Corporate Social Responsibility- A Positive Obligation on the Companies to Fulfill their Responsibility towards Country

Publication Information

Journal Title: Journal of Legal Studies & Research
Author(s): Gitesh Sinha
Published On: 29/06/2022
Volume: 8
Issue: 3
First Page: 177
Last Page: 197
ISSN: 2455-2437
Publisher: The Law Brigade Publisher

DOI: doi.org/10.55662/JLSR.2022.8304

Cite this Article

Gitesh Sinha, Corporate Social Responsibility- A Positive Obligation on the Companies to Fulfill their Responsibility towards Country, Volume 8 Issue 3, Journal of Legal Studies & Research, 177-197, Published on 29/06/2022, doi.org/10.55662/JLSR.2022.8304 Available at https://jlsr.thelawbrigade.com/article/corporate-social-responsibility-a-positive-obligation-on-the-companies-to-fulfill-their-responsibility-towards-country/

Abstract

Corporations throughout the world have adopted the notion of “Corporate Social Responsibility” (CSR). Companies in India have long been required to practice corporate social responsibility (CSR). It’s been done before and more recently by the corporate community. In order to fulfill its responsibilities, the government must incorporate it into its daily operations. In many cases, they lack a defined purpose or goal. Since recently, there has been evidence that things are beginning to change. Other things come into play, including globalization. The Millennium Development Goals and other reasons have caused people to become more concerned and work harder. There is a clear example of how the government’s objectives are being achieved through the Companies Act. Corporate social responsibility (CSR) programs have seen a huge increase in funding, and many of these programs have gone above and beyond what was expected. It is imperative that what the law requires be carried out. According to what is happening throughout the world, there have been efforts to make the country more ecologically friendly. As a crucial part of a company’s overall strategy, CSR aims to provide a competitive advantage while also benefiting the firm itself.

Keywords: Companies Act 2013, Corporate Social Responsibility, Board’s Responsibility in CSR implementation, CSR Committee, CSR Impact.

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