From Philanthropy to Mandate: Navigating the Evolution and Challenges of Corporate Social Responsibility in India

The paper explores the emergence of CSR in India, tracing its transition from a voluntary philanthropic activity to its recognition as a statutory obligation in the Companies Act 2013. The study highlights the historical background and theoretical basis of CSR, outlines the implications of this activity on corporate governance, and identifies the major concerns related to the current policy of CSR. These include limited understanding of CSR which reduces it to mere financial contributions, a narrow scope of activities, geographical imbalances in spending, and the lack of integration of genuine social responsibility with core business operations. The study argues that CSR, if aligned to international standards, will actually foster genuine corporate responsibility and sustainable impact beyond mere compliance. Suggestions include the expanding CSR definition, enhancing equity in regional allocation of CSR fund, and ensuring accountability through impact assessments and independent audits. It addresses the gap in India's CSR framework and suggests how CSR is not just to be treated as a regulatory checkbox but as an intrinsic part of corporate strategy and social responsibility.