Abstract

Corporate social responsibility is now recognised as a tool for organisational sustainability. As a result, it must be acknowledged as an organisational goal. New Company Law mandated that corporations give 2% of their net income to CSR in 2012. This requirement forced Indian businesses to intentionally work towards CSR because it obliged a specific class of businesses to allocate a percentage of their revenues to CSR operations. Any effort to improve society is referred to as. Corporate entities must act as socially responsible corporate citizens and contribute to the common good. They can no longer restrict how they use societal resources. This study's major goal is to determine why CSR is important for corporations. Why should they support the economic development of the nation? What crucial actions could the government take to increase business support for CSR initiatives? As is well known, modern Indian corporations focus more on all stakeholders and move beyond the concept of philanthropy (charity). The current research study makes an effort to assess a number of these new CSR law provisions in the perspective of contemporary corporate philosophy and to call attention to the practical challenges associated with putting the new rules into practise.

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