From love to money: can philanthropy ever foster social transformation?

This paper traces the evolution of corporate social responsibility (CSR) in India from traditional philanthropy to its mandatory form, introduced by the Companies Act 2013. It highlights India's unique position as the first country to mandate CSR, driven by concerns over uneven economic growth and persistent poverty. The authors analyze why regulatory CSR spending is crucial in a country like India to address societal gaps and ensure companies contribute more effectively to social welfare and sustainable development.