Overview of Corporate Social Responsibilty in Indian Organization

By : Rajeev Prabhakar , Sonam Mishra

Page No: 242-249

Abstract
India is a developing economy; here Corporate Social Responsibility (CSR) plays an important role in organizations. In Indian industry one can easily notice a paradigm shift from corporate philanthropist to being socially responsible. The importance of CSR is increasing in Indian corporate scenario because organizations have realized that the ultimate goal is not profit making; besides, this trust building is viable and assists in a functional societal relationship. The compulsion of CSR has emerged in last two decades when Indian organization realized the importance of sustaining in this cut-throat competition era. Before this Indian industries had a materialistic culture. In the hue and cry of LPG (Liberalization, Privatization and Globalization) companies were only focused towards profit maximization which led to social backwash. To overcome this fashion CSR play an important role in sustainable development which is only possible when there is a balance between profit and lowering social backwash or eradicating it. The problem with CSR is that nobody is very clear about what exactly it encompasses. The Indian government has been trying to make it mandatory for companies to spend at least 2% net profits on CSR. Today CSR to some companies means providing lunch to their employees or tackling global warning issues. Nowadays companies have become more transparent in their balance sheets. They are displaying public reporting in their accounting. Companies are incorporating their CSR initiatives in their annual report. This research paper tries to analyse the study of CSR status in India; this can give insight in to what extent companies can follow CSR. I would like to throw light on CSR for Indian organizations which would be helpful for both economic and social interests which would be a futuristic measure as it provides valuable information as well as suggests CSR practices and performance. thoughts.

Authors :
Rajeev Prabhakar : Associate Professor, Department of Commerce, Deen Dayal Upadhyay Gorakhpur University, Gorakhpur, U.P.
Sonam Mishra : Research Scholar, Department of Business Administration, Deen Dayal Upadhyay Gorakhpur University, Gorakhpur, U.P.