CORPORATE SOCIAL RESPONSIBILITY AND ITS IMPLICATION IN INDIA

Nclusion of socio - environmental concerns in business operations is the need of the hour. Corporate are no more judged on their financial parameters alone. Upgrading the triple bottom lin e is a must. The relationship of a corporate with stakeholders defines its sustainability and this is directly proportional to CSR initiatives of the firm. Although firms have devised diverse strategies to deal with the intersection of business essentials, environment and societal needs in terms of investing a specific portion in CSR, but still a huge gap exists. The paper talks about chronological development of the concept of CSR, the triple bottom line as tool to sustainability, the key stakeholders and major dimensions of CSR simple variance analysis is done to support the concept of lack of efforts on the part of firms. The firms under study are across 3 industries, oil& gas, steel and automobiles. The firms are also ranked on % basis.