CORPORATE SOCIAL RESPONSIBILITY : ETHICAL COMMITMENT BY BUSINESS

Abstract

India began with mixed economy consisting of state owned public sector & private sector subject to industrial licensing
& many administrative controls on impacts, foreign exchange etc. From 1950 to 1990, the economy grew at only 3.5%
p.a. But Indian economy has witnessed a high growth path of 8% in 21st Century. But on the other hand inflation rose
above 12% which affect the poor more. Sustained inclusive growth requires an optional blend of three sets of Actors &
their respective responsibilities. The first is Government Social Responsibilities and the initiatives taken by government.
The second is Corporate Social Responsibilities (CSR) which includes providing customer value, shareholder returns and
employee satisfaction. The next call is for personal social responsibility which requires that every citizen above the poverty
line must take his own responsibilities. This paper deals with the second things. Since business creates much of wealth &
well being in the society CSR has gained to get attention from very long time. CSR has become crucial due to the fact that
it influences all aspect of business as well as the society.