Published Online:October 2024
Product Name:The IUP Journal of Accounting Research & Audit Practices
Product Type:Article
Product Code:IJARAP171024
Author Name:Rishikesh Nalawade and Kandarp Singh
Availability:YES
Subject/Domain:Finance
Download Format:PDF
Pages:377-402
Corporate social responsibility (CSR) has become a pivotal aspect of contemporary business practices, reflecting the intertwined relationship between business and society. This paper analyzes CSR spending patterns in India, examining both sectoral and regional dimensions. It investigates the sectoral distribution trends of CSR expenditures, shedding light on companies’ priorities in addressing societal challenges. Sectors such as education, healthcare, sanitation, rural development, environmental sustainability and poverty alleviation emerge as focal points for CSR activities. The study explores the evolution of CSR in the Indian context, particularly after the enactment of the Companies Act in 2013, which mandated qualifying companies to allocate a percentage of profits to CSR activities. It also explores the geographical distribution of CSR funds across different Indian states, revealing disparities and regional imbalances. The study uses a descriptive methodology, relying on secondary data from government databases, corporate reports, and other relevant sources. The findings highlight the transformative impact of CSR initiatives on sectors such as education and healthcare.
Corporate social responsibility (CSR) has evolved from a business concept into a crucial strategy that integrates societal and environmental considerations into corporate operations (Carroll, 2015). CSR stands as a fundamental concept in today’s business landscape, embodying the interconnectedness of business and society (Wood, 1991).