CSR is a significant role played by the corporate companies, which mainly shows that profits should not be the only goal of a company, to promote sustainable development in the market, help in reducing the problems faced by the society, etc. This also helps in strengthening the company’s brand reputation.

Activities permitted under Corporate Social Responsibility (CSR)

• Eradicating extreme hunger and poverty.
• Promotion of education.
• Promoting gender equality and empowering women.
• Reducing child mortality.
• Improving maternal health.

It is found that the key factors or activity areas of CSR are environmental protection, construction quality and safety, community, employees, clients, and CSR management.

Top 10 highest spending businesses on CSR in FY 2018-19:

1. Reliance Industries Ltd: Rs 849.3 crore.
2. ONGC Ltd: Rs 614.6 crore.
3. IOC Ltd: Rs 490.61 crore.
4. HDFC Bank Ltd: Rs 443.80 crore.
5. Tata Consultancy Ltd: Rs 434.0 crore.
6. Infosys Ltd: Rs 342.0 crore.
7. Tata Steel Ltd: Rs 314.9 crore.
8. ITC Ltd: Rs 307.0 crore.

Without further adieu, here are our top 100 rankers from India for CSR in 2020.

• Infosys Limited. Narayan and Sudha Murthy are role models for responsible businesspersons.
• Mahindra & Mahindra Ltd.
• Tata Chemicals Ltd.
• ITC Ltd.
• Vedanta Ltd.
• Wipro Ltd.
• Hindustan Unilever Ltd.
• Godrej Consumer Products Ltd.

In the early 90’s Mahatma Gandhi introduced the concept of trusteeship helping socio-economic growth. CSR was influenced by family values, traditions, culture and religion. On 29th August 2013, The Companies Act 2013 replaced the Companies Act of 1956.

The following are five major ways in which responsibility for corporate actions contributes to the triple bottom line.

• Positive Press and Reputation Building.
• Consumer Appeal.
• Talent Attraction and Employee Retention.
• Stronger Client and Community Relations.
• Bottom Line.

Read on to discover the four types of corporate social responsibility of business and how they look in action.

• #1: Environmental responsibility.
• #2: Ethical responsibility.
• #3: Philanthropic responsibility.
• #4: Economic responsibility.
• The benefits of CSR.

Here are the top 5 ways to improve CSR as suggested by experts at panel chat at the Economic Times Compendium.

1. Board Committees Must Take CSR Seriously.
2. Do What No One Has Done.
3. Follow the Private Equity Philosophy.
4. Create Capacities with Funds to NGOs.
5. View Different Problems With Different Lens.

In monetary terms, the provisions for CSR may be said to be successful in India as more and more companies are now indulging in CSR activities. It was reported in India’s CSR Reporting Survey that there were 76% companies amongst the N100 companies that had spent 2% or more for CSR activities in the year 2018-2019.

Some examples of CSR in action include:

• Reducing carbon footprint.
• Engaging in charity work.
• Purchasing fair trade products.
• Investing in environmentally conscious businesses.
• Getting involved in volunteer work.
• Improving labour policies.

Beyond attracting new customers, CSR also helps responsible companies hang on to their existing ones. An individual can’t solve climate change alone, but they can be a part of the solution by spending money with a company that offsets its carbon footprint. The same can also be said for your employee engagement.

The following are the types of CSR activities in India that the qualifying listed companies under the Companies Act 2013 can contribute to: This can be done by promoting health care and sanitation in rural areas. This can also be a contribution to the Swach Bharat Kosh which has been set-up by the Central Government.

Prior to the compulsion of the Corporate Social Responsibility clause, CSR activities in India were voluntary for the listed companies. However, it was mandatory for them to disclose their CSR spending to their shareholders. Under the Companies Act, the preference has to be given to local areas in which the company operates.

The New Act has introduced far-reaching changes that affect company formation, administration, and governance, and incorporates an additional section i.e. Section 135 – clause on Corporate Social Responsibility obligations (“CSR”) for companies listed in India.

I am pleased to know that Ministry of Corporate Affairs and ASSOCHAM are organising the 1stInternational Summit on Corporate Social Responsibility at New Delhi. In a market oriented economic structure, corporate sector is the prime mover of economic growth.