In a landmark legislation new companies bill was passed in 2013. The scholars and practitioners welcomed the bill with unprecedented enthusiasm and fanfare. Some even claimed it to be the most progressive bill ever passed in the history of independent India. Amongst many provisions, one that has caught maximum attention is a 2% mandatory spending on CSR activities for companies making Rs. 5 Crores (USD 800,000 approx) or more in profits after tax. One should have the courage to cast a doubt on the good intent and immense possibilities that this legislation offers. Yet, going by the history of businesses in India, both public and privately owned enterprises have been quite reluctant to spend on the social initiatives. Even though the bill appears very promising in its intent, it is not very apparent how the businesses will respond to it. The paper brings out the patterns of large corporate spending on social activities in the past to assess the sector preference of businesses, to somewhere assess are they appending right.
| Published in | Journal of Investment and Management (Volume 4, Issue 1) |
| DOI | 10.11648/j.jim.20150401.12 |
| Page(s) | 9-13 |
| Creative Commons |
This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited. |
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Copyright © The Author(s), 2015. Published by Science Publishing Group |
Corporate Social Responsibility (CSR), Social Spending & CSR Activities
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APA Style
Jagannath Mohanty. (2015). Corporate Social Responsibility in India Inc.: Are They Spending Right. Journal of Investment and Management, 4(1), 9-13. https://doi.org/10.11648/j.jim.20150401.12
ACS Style
Jagannath Mohanty. Corporate Social Responsibility in India Inc.: Are They Spending Right. J. Invest. Manag. 2015, 4(1), 9-13. doi: 10.11648/j.jim.20150401.12
AMA Style
Jagannath Mohanty. Corporate Social Responsibility in India Inc.: Are They Spending Right. J Invest Manag. 2015;4(1):9-13. doi: 10.11648/j.jim.20150401.12
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Download@article{10.11648/j.jim.20150401.12,
author = {Jagannath Mohanty},
title = {Corporate Social Responsibility in India Inc.: Are They Spending Right},
journal = {Journal of Investment and Management},
volume = {4},
number = {1},
pages = {9-13},
doi = {10.11648/j.jim.20150401.12},
url = {https://doi.org/10.11648/j.jim.20150401.12},
eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jim.20150401.12},
abstract = {In a landmark legislation new companies bill was passed in 2013. The scholars and practitioners welcomed the bill with unprecedented enthusiasm and fanfare. Some even claimed it to be the most progressive bill ever passed in the history of independent India. Amongst many provisions, one that has caught maximum attention is a 2% mandatory spending on CSR activities for companies making Rs. 5 Crores (USD 800,000 approx) or more in profits after tax. One should have the courage to cast a doubt on the good intent and immense possibilities that this legislation offers. Yet, going by the history of businesses in India, both public and privately owned enterprises have been quite reluctant to spend on the social initiatives. Even though the bill appears very promising in its intent, it is not very apparent how the businesses will respond to it. The paper brings out the patterns of large corporate spending on social activities in the past to assess the sector preference of businesses, to somewhere assess are they appending right.},
year = {2015}
}
TY - JOUR T1 - Corporate Social Responsibility in India Inc.: Are They Spending Right AU - Jagannath Mohanty Y1 - 2015/07/22 PY - 2015 N1 - https://doi.org/10.11648/j.jim.20150401.12 DO - 10.11648/j.jim.20150401.12 T2 - Journal of Investment and Management JF - Journal of Investment and Management JO - Journal of Investment and Management SP - 9 EP - 13 PB - Science Publishing Group SN - 2328-7721 UR - https://doi.org/10.11648/j.jim.20150401.12 AB - In a landmark legislation new companies bill was passed in 2013. The scholars and practitioners welcomed the bill with unprecedented enthusiasm and fanfare. Some even claimed it to be the most progressive bill ever passed in the history of independent India. Amongst many provisions, one that has caught maximum attention is a 2% mandatory spending on CSR activities for companies making Rs. 5 Crores (USD 800,000 approx) or more in profits after tax. One should have the courage to cast a doubt on the good intent and immense possibilities that this legislation offers. Yet, going by the history of businesses in India, both public and privately owned enterprises have been quite reluctant to spend on the social initiatives. Even though the bill appears very promising in its intent, it is not very apparent how the businesses will respond to it. The paper brings out the patterns of large corporate spending on social activities in the past to assess the sector preference of businesses, to somewhere assess are they appending right. VL - 4 IS - 1 ER -
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