Review on Corporate Social Responsibility and Inclusive Growth

Abstract

Business houses are also playing an important role in the overall social development process of the country. This is due to the policy adopted by the companies themselves. Many Indian Companies have grown in size and capabilities conducting development policy and innovative programmes in the field of health, livelihood, education, micro-financing, and income generation programmers. These programmes have also made important contribution in the effort to eradicate various social problems as these all are closely intertwined with the rapid inclusive growth of the country. There are some reports showing that rapid inclusive growth is possible with the more participation of the private sectors. However, unless big companies make significant improvement and constructive changes in promoting philanthropic behaviours, their best efforts may not prove sufficient for ending various problems being faced by the larger section of the society. Meanwhile, the companies have started focusing on the middle and lower income group markets and have embraced inclusive growth. This paper gives a solid background based on the review of various literatures to have strong CSR (Corporate Social Responsibility) policy in the country.