Journal
| Title | Corporate Social Responsibility & Companies Act: Strategising a New Paradigm for Inclusive Growth | |
| Author's Name | Md. Zafar Mahfooz Nomani and Mohammad Nasir | |
| ISSN | 0974-7281 | |
| Page(s) | 41-51 | |
| Volume No. | 6 | |
| Issue Month | January 2014 | |
| Keywords | Accelerated growth, Concentration of wealth, Inclusive growth, Social disarticulation. | |
| Abstract | Inclusive growth has assumed an overarching objective of governance under the eleventh and twelfth five year plans. Recent establishments have privileged prosperity promotion relative to poverty alleviation. The magnitude of disparities bespeak state’s failure to translate accelerated growth into inclusive growth. India is prospering but Indians are not. With an increasing concentration of wealth and resources in private hands since the onset of NEP, there is an evident realization of the need to break the mould of brand ‘capitalism’, and make them cognizant of their societal responsibilities. The paper examines the mandate and potential of the Companies Act, 2013 with respect to the CSR governance, ambit of CSR operations, guidelines for spending, key compliance requirements, and activity mapping for making a robust CSR programme. Highlighting concern over the current growth trajectory, the paper submits that the CSR provisions of the new act, if applied to in consonance with social justice principles of our Constitution, have a tremendous potential to arrest social and economic disarticulation which the present pattern of development threatens to set in. |
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