Corporate Social Responsibility Practices of Selected Private Corporates in Kerala

Abstract

Corporates play an important role in the development of our economy. They have an obligation towards the society. The corporate social responsibility (CSR) initiatives undertaken by different corporates have significantly contributed a lot to the society. Kerala is a state which is famous for its Kerala model of development. The state stands first in all human development indicators but the industrial and agriculture sector is not performing well. This backward trend of industrial sector has also affected the corporate social responsibility initiatives undertaken by both public and private corporates in Kerala. Most of the public sector corporates are loss making and in the case of corporate social responsibility private corporates are more engaged in such activities when compared with public sector. Even though the performance of Kerala in corporate social responsibility is not outstanding, there has been a significant change in it over the past few years. It was mainly after the introduction of the Companies Bill 2013, when spending on corporate social responsibility was made mandatory. The paper focuses on corporate social responsibility activities followed by selected private corporates in Kerala after the implementation of provisions under the Companies Bill 2013 and the study is based on secondary data.