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    A Case for Mandatory Corporate Social Responsibility (CSR) in India

    Lee, Woong | April 2017
    Abstract
    Corporate Social Responsibility (CSR) in India is particularly interesting because there is a long tradition of firms' contribution to society even before the terminology of CSR was introduced, although India is a developing country. More interestingly, it is the first country to enact mandatory CSR in the globe. According to Section 135 of Chapter IX under the Companies Act, which was revised in 2013, a company becomes eligible for CSR with a net worth of more than 5 billion Rupees (approximately USD 75 million), turnover of more than 10 billion Rupees, or net profit of more than 50 million Rupees. All eligible companies under the Act must constitute a CSR committee of the board consisting of at least three directors. The committee must ensure that the company spends at least 2 percent of the average net profit of the company earned during the three immediately preceding financial years, in pursuance of its CSR policy. Since this is the first case in the world of a mandatory CSR provision being introduced, the consequences of the revised Act are of much importance.
    Citation
    Lee, Woong. 2017. A Case for Mandatory Corporate Social Responsibility (CSR) in India. © Korea Institute for International Economic Policy. http://hdl.handle.net/11540/10565.
    Keywords
    Commerce and Industry
    Intra-Industry Trade
    Large Scale Industry
    Labor
    Textile Industry
    Rayon Industry
    Cotton Industry
    Clothing Industry
    Alleviating Poverty
    Anti-Poverty
    Extreme Poverty
    Fight Against Poverty
    Global Poverty
    Health Aspects Of Poverty
    Indicators Of Poverty
    Participatory Poverty Assessment
    Poverty Eradication
    Poverty Analysis
    Poverty In Developing Countries
    Poverty Reduction Efforts
    Urban Poverty
    Industrialization
    Industrial Economics
    Industrial Development
    Industrial Policy
    Weaving
    Textiles
    Textile Workers
    Wool Industry
    Silk Industry
    Small Scale Industry
    Medium Scale Industry
    Local Industry
    Export Oriented Industries
    Shoe Industry
    Clothing
    Hosiery Industry
    Fur Industry
    Leather Industry
    Income Distribution
    Demographic Indicators
    Social Justice
    Capital market
    Developing countries
    Market share
    Labor
    Work clothes industry
    Women's clothing industry
    Children's clothing industry
    Uniforms industry
    Garment industry
    Apparel industry
    Belt industry
    Glove industry
    Footwear industry
    Social change
    Social accounting
    Inequality of income
    Economic growth
    Quality of Life
    Green Revolution
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    Citable URI
    http://hdl.handle.net/11540/10565
    Metadata
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    KIEPopinions_no107.pdf (105.1Kb)
    Author
    Lee, Woong
    Theme
    Industry
    Poverty
     
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise