Purpose of CSR in current social and economic context of India

Lahiri, Amit (2018) Purpose of CSR in current social and economic context of India. CSR Mandate, 4 (2). pp. 8-12.

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Economic development can be just, equitable and sustainable only when it is inclusive. The distinction between inclusive growth and inclusive development that most scholars agree on is that the former is limited to income while the latter includes non-income dimensions as well. Underlining its significance, inclusive growth has been incorporated as one of the sustainable development goals. India, as ththe world's fourth fastest growing economy, ranks 60 among the 79 developing economies in 'Inclusive Development Index' developed by World Economic Forum. This shows that India is far from leading an inclusive development path in the country. India's performance in improving education and health indicators paints a dismal picture and validates that there is a long way to go to ensure that the country is following an inclusive development model. It needs innovative policy solutions to realise inclusive development. In 2013, India became the first country in the world to make spending under Corporate Social Responsibility (CSR) mandatory by law. This legislation has created an important opportunity to mobilise resources and build mechanisms to promote inclusive development in the country. This article presents the case of the important role of mandated corporate social responsibility in a plural and fragmented society like India.

Item Type: Article
Keywords: Corporate Social Responsibility in India | Inclusive growth in India | Sustainable development
Subjects: Social Sciences and humanities > Economics, Econometrics and Finance > Economics
Social Sciences and humanities > Social Sciences > Social Sciences (General)
JGU School/Centre: Jindal School of Environment & Sustainability
Depositing User: Subhajit Bhattacharjee
Date Deposited: 28 Apr 2022 12:21
Last Modified: 28 Apr 2022 12:21
Official URL: https://www.csrmandate.org/wp-content/uploads/2018...
URI: https://pure.jgu.edu.in/id/eprint/2725


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