Published Paper Details:

Globally, Corporate Social Responsibility (CSR) has evolved through distinct phases with various terminologies like corporate philanthropy, corporate ethics, corporate citizenship, corporate social performance, corporate accountability, corporate sustainability, triple bottom line, etc. where CSR happens to be the fulcrum of all the above approaches. Further, one of the biggest experiments in the history of CSR is the enactment of Companies Act, 2013 by the Ministry of Corporate Affairs, Government of India, to introduce mandatory CSR on the companies to take up projects towards social/environmental welfare activities. Indeed, India is the first country to have brought about a legislation to implement CSR activities. Such CSR regulations help corporates to have a direct stake in developing the society and acutely change their role from perceived exploiters of commerce to facilitators of balanced economic development. This paper juxtaposes the evolution of CSR in India, from voluntary to mandatory approach. CSR provisions as per the Companies Act, 2013 and its impact on the CSR initiatives are examined. The CSR regulations are further amended in the Companies (Amendment) Act, 2019. The government, however, is considering a re-evaluation of the CSR provisions, after the companies objected to the strict rules and regulations. Further, to encourage corporates towards fulfilling their social responsibilities during the pandemic COVID-19, certain amends were made. Future dimensions relating to the extent of government intervention in promoting and motivating companies to take up CSR activities are also analysed.