ISO 9001:2015

ROLE OF CORPORATE SOCIAL RESPONSIBILITY IN AGRICULTURE DEVELOPMENT, ACHIEVING SUSTAINABILITY AND CSR LEGAL FRAMEWORK IN INDIA

Madhu

It is a study about the meaning of corporate social responsibility in the context of sustainability and enhancing the role of corporate social responsibility in achieving sustainability. Corporate social responsibility has extended the boundaries of the firm into society. Corporate Social Responsibility activity brings a change in the lives of deprived people in rural India. Deprived people in India are mostly based on agriculture for their livelihood and CSR also plays a significant role in the agriculture sector. Business Corporate social responsibility has a positive correlation with the financial performance of the business. In this paper, we explain the concept of Corporate Social Responsibility in the Indian Scenario. India is the first country that make corporate social responsibility activity compulsory for large and profitable companies. Few big companies were working on corporate social responsibility before it was made compulsory in India. Public sector units consider corporate social responsibility important for fulfilling the strategy of the organization. We also discuss the critical success factor which makes corporate social responsibility successful. This study also discusses how CSR plays a significant role in achieving sustainability. Based on the survey we conclude that an organization has a significant effect on its external environment and changes the environment through its activities. Now companies are taking corporate social responsibility activities seriously not only because it plays a key role in their business success but also it gives a strategic and competitive advantage. Corporate social responsibility plays a strong role to deal with critical disasters.

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Keywords: Corporate Social Responsibility (CSR), Sustainability, Rural Area, Agriculture, Legal Framework, Public Sector Unit.


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