The concept and practice of Corporate Social Responsibility has not been new or alien to India's culture. Fairly a large number of industrial or business houses have been undertaking what we had termed as “Philanthropic activities”, which, in its present avatar is known as Corporate Social Responsibility. These were purely voluntary and guided more by noble thoughts with religious flavour. However, such social service schemes were indeed few and far between.

More recently, precisely on 27th February, 2014, the Government of India has notified the rules for CSR spending under Section 135 of the New Companies Act 2013 along with Companies (Corporate Social Responsibility Policy) Rules, 2014 effective from 1st April 2014. The new rules have made it mandatory for all companies including foreign companies with branches or projects in India who have a minimum net worth of Rs. 500 or an annual turnover of Rs. 1000 crore or those having a net profit of at least Rs, 5 crore. Organisations that meet with any of the conditions mentioned above, are required to spend at least 2% of their 'average' net profits of the block of previous three years on CSR activities. The Government has also laid down the ground rules for administration of such Corporate Social Responsibilities (CSR).

CSR Activities as prescribed under Schedule VII of CA, 2013, are as under :

1. Eradicating extreme hunger and poverty;

2. Promotion of education;

3. Promoting gender equality and empowering women;

4. Reducing child mortality and improving maternal health;

5. Combating HIV, AIDS, malaria and other diseases;

6. Ensuring environmental sustainability;

7. Employment enhancing vocational skills;

8. Social business projects;

9. Contribution to the Prime Minister's National Relief Fund or any other fund set up by the Central Government or the State Governments for socio-economic development and relief and funds for the welfare of the Scheduled Castes, the Scheduled Tribes, other backward classes, minorities and women; and

10. Such other matters as may be prescribed.

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