CSR: RESPONSIBILITY, PHILANTHROPY OR LIABILITY IMPOSED ON CORPORATIONS

This study attempts to examine whether the state is imposing CSR as legal obligations on corporations or corporations are actually socially responsible towards society or it is philanthropy. In the absence of any tool, impact of CSR on society can't be measured properly. Study is also imperative to understand that while practicing CSR, in the absence of any monitoring mechanism the efforts of the companies are just or it is only an eye wash being done in this direction. Based on the secondary data available through various sources the author also discusses that companies are now bound to form the CSR committees as per the act to formulate the policies and ensure its effective implementation (of course the financial statements shows their commitments too) yet in the absence of any monitoring mechanism neither the government nor the companies (except a few) are in position to highlight the outcome of these huge investments.