Corporate Social Responsibility: A Legal Framework

  • Anamika Jha
  • Show Author Details
  • Anamika Jha

    Student at Amity University, Patna, India

  • img Download Full Paper

Abstract

The concept of corporate social responsibility is now widely acknowledged as a tool for attaining a company's long-term development objectives. Corporations can no longer be limited in their use of society's resources; they must be socially responsible corporate citizens who contribute to the common good. Nowadays Indian firms have evolved transcend philanthropy to prioritise every stakeholder. All financially driven business actions must take into account both social and environmental effects. With the Companies Act of 2013, the Indian government adopted a legal strategy to restructure the connection between business and society through required CSR initiatives. Corporate Social Responsibility is increasingly a reality in India. Businesses in India have realised that in order to achieve sustainable development, they must take into account not just the economic, but also the environmental and social implications of their operations. The current research article examines key components of the new CSR regulation. Why and how should corporations support social welfare and economic growth in their home nations, as well as the possible advantages of CSR for enterprises.

Type

Article

Information

International Journal of Law Management and Humanities, Volume 6, Issue 3, Page 1165 - 1173

DOI: https://doij.org/10.10000/IJLMH.114945

Creative Commons

This is an Open Access article, distributed under the terms of the Creative Commons Attribution -NonCommercial 4.0 International (CC BY-NC 4.0) (https://creativecommons.org/licenses/by-nc/4.0/), which permits remixing, adapting, and building upon the work for non-commercial use, provided the original work is properly cited.

Copyright

Copyright © IJLMH 2021