Doing good and doing it well

Reading most annual reports will convince you that firms have adopted CSR unreservedly

Corporate social responsibility (CSR) has found place on the board agenda since the Companies Act 2013 was enacted. Before CSR was made mandatory, companies did try and push back. Many argued that the government is abdicating its “social responsibilities” and inserting the provision regarding CSR spend reflected government failure. Others went on to argue that the government should drop the provision, and increase corporate tax by the equivalent two per cent—after all, the business of business is business and such pastimes do not fit into the business plan. Three years later, if we look at the alacrity with which corporates