CSR as a New Perspective towards Inclusive Development: Evidence from Industries in Rajasthan

Corporate Social Responsibility (CSR) can be defined as an approach contributing towards the sustainable development by delivering various benefits for the stakeholders including social, economic, and ecological benefits. Corporates contribute deliberately for the betterment of the society and a sanitary environment through various business activities and investment towards the betterment of the society. This study is an attempt to analyze the present inclination and status of CSR in Rajasthan to comprehend the contributions towards the inclusive development. A survey study of large-scale industries in Rajasthan has been conducted and the findings revealed that organizations in Rajasthan have a constructive approach towards CSR and their involvement extent has improved over time. It is apparent from this study that large-scale corporates have maintained their contribution towards the CSR initiatives. Although microfinance registered comparative less important among CSR activities, organizations are preferring integrated CSR suitable to the business strategy and increasing their support for education, healthcare and environmental sustainability activities. Transparency as well as standardization can be increased in for the CSR initiatives and introducing proper amendments in the relevant legislation by regulatory authorities. GOI’s support in implementing the CSR initiatives may be advantageous for channelizing the funds, from both the sectors, private and public for better and planned development of the country.