Corporate Social Responsibility Practices in India: a Study of Top Fast Moving Consumer Goods Companies
This paper tries to enlist various initiatives taken by the FMCG sector in the recent times with respect to CSR along with its future scope. The Corporate Social Responsibility is the commitment of the corporate for the equitable growth&sustainable development of the society. Under the new Companies Act, 2013, passed by Parliament in August 2013, profitable companies will have to spend at least 2 per cent of their average net profit over the preceding three years on CSR activities. In this context the present paper looks into the corporate social responsibility spending of the Indian FMCG companies.
Statement of the Problem: From the past studies it has been found that the contribution by Indian companies on corporate social responsibility is deficient. The new legislation of Companies Act 2013 requires certain class of companies to spend at least 2 % of their three year average annual net profit towards CSR activities. It in this perspective the following study is undertaken to figure out CSR spending of the Indian FMCG companies.
Keywords
- Das, S.K. (2012). CSR Practices and CSR Reporting in Indian Financial Sector, International Journal of Business and Management Tomorrow, Vol. 2 No. 9.
- Sahoo, C. Corporate Social Responsibility: Issues and controversies. Journal of Business and Management, Vol 3, No 2, pp 1-4, ISSN 2222-1905.
- Wankhade, V. (2014). Analysis of Corporate Social Responsibility Spending of the Indian Companies, Abhinav International Monthly Refereed Journal of Research in Management & Technology, Volume 3, Issue 4, pp 12-20, Online ISSN-2320-0073.
- Gautam R. & Singh A. (2010). Corporate Social Responsibility Practices in India: A Study of Top 500 Companies, Global Business and Management Research: An International Journal, Vol. 2, No. 1, 2010, pp 41-56.
- Khan S. (2010). Corporate Social Performance of Indian FMCG Companies, Issues in Social and Environmental Accounting, Vol. 3, No. 2, pp 180-201.
- Singh N. & Srivastava R. & Rastogi R. (2013). CSR Practices & CSR Reporting in Indian Banking Sector, International Journal of Scientific and Research Publications, Volume 3, Issue 12, ISSN 2250-3153, ISSN 2250-3153.
- Ray S. Linking public sector Corporate Social Responsibility with sustainable development: lessons from India, RAM. Revista de AdministraĆ§Ć£o Mackenzie, ISSN 1678-697
- Ernst & Young (2013). Report on Corporate Social Responsibility in India: Potential to contribute towards inclusive social development, Global CSR Summit 2013, An Agenda for Inclusive Growth.
- Chatterji, M , Corporate Social Responsibility, Oxford University Press, ISBN-13: 978-0198069836.
- Saravanavel, P, Research Methodology, Kitab Mahal, Allahabad 2003.
Abstract Views: 437
PDF Views: 303