A COMPARATIVE STUDY OF CORPORATE SOCIAL RESPONSIBILITY INITIATIVES TO TROUNCE THE PROBLEM OF COVID -19 IN INDIA
Abstract
In India, in view of the spread of novel covid-19, corporate and government join their hand together to overcome this problem. Our government of India hereby declared that spending of corporate social responsibility funds for covid-19 is eligible for corporate social responsibility activity as per the Company act 2013 under section 135. Covid-19 is pandemic declared by the WHO and Government of India has declared this problem as notified disaster. Government may create a portal for specific requirements and asking from the business entity and individuals for contributing in cash and kind towards those requirements. This is worldwide problem many countries are facing this problem due to lockdown in various countries Industries are suffering the problem of cash flows. Government of India has initiated lockdown of more than 40 days .Now the pace of work is very slow which effected GDP and market conditions adversely it is expected in long term recovery is possible but yet the problem does not disappear. The aim of this paper is to study about the change in corporate spending in corporate social responsibility initiatives during this pandemic even though facing the problem of cash flows and to also know the new amendments in company Act 2013 under section 135 to support to the corporate to trounce this pandemic.
References
“Business Ethics And Corporate Governance “Fernando A.C. -Pearson Education India, 2010
CSR and Sustainability. From the Margins to the Mainstream: A Textbook. Author: Michael Hopkins. (2016). Sheffield, UK: Greenleaf Publishing.
Mukherjee, A., & Bird, R. (2016). Analysis of mandatory CSR expenditure in India: a survey. International Journal of Corporate Governance, 7(1), 32-59.
Verma, D., & Jain, N. (2019). CSR stipulations of Companies Act, 2013 and actual CSR expenditure by top Indian Companies prior to its implementation: A comparative study. Available at SSRN 3453686.
http://ficci.in/sector/report/20588/COVID-19_Interventions-by-Companies.pdf
https://www.indialegallive.com/special-story/csr-expenditure-to-fight-covid-19-96381
https://www.mca.gov.in/MCA21/dca/help/instructionkit/1093-FormCSR_help.PDF
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