A Study of Corporate Social Responsibility Practices of Large Scale Public Manufacturing Companies in Thane District

Abstract

The term Corporate Social Responsibility (CSR) what is generally understood newlineis that business has an obligation to society that extends beyond its obligation to its newlineshareholders or owners. The first publication on CSR by Bowen (1953) Social newlineresponsibility of the businessmen advocates that industry has an obligation to pursue newlinethose policies, to make those decisions, to follow those line of actions which are newlinedesirable in terms of the objectives and values of society. In India, the concept of newlineCSR is governed by clause 135 of the Companies Act, 2013. The Act encourages newlinecompanies to spend at least 2% of their average net profit in the previous three years newlineon CSR activities. The indicative activities which can be undertaken by a company newlineunder CSR have been specified under Schedule VII of the Act. In light with the newlineexisting mechanism for CSR in India, the present study has been carried out to study newlinethe CSR initiatives in large scale public manufacturing companies in Thane District of newlineMaharashtra State. Thane is one of the important districts in Maharashtra State newlinehousing several industrial segments and located near countries financial capital newlineMumbai. Many parts in the District witness several socio-economic problems. CSR is newlineviewed to be instrumental in solving these issues on priority basis so as to achieve the newlinedistant dream of sustainable social development. However, little attention is given to newlinestudy CSR initiatives of industries in Thane District. Detailed and unambiguous study newlineof the current situation about CSR initiative is necessary for the policy intervention. newlineTo fill this research gap, the present study has carried out to study CSR initiatives of newlinepublic manufacturing companies in Thane District. The attempt has also been made to newlinerelate CSR performance of selected companies with their financial performance. newlineObjectives newlineThe specific objectives of the present study are as follows. newline1. To study CSR initiatives in India. newline2. To review models evaluating CSR initiatives. newlinexvi newline3. To study the CSR activities of large scale p