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The fifth phase of the development of Corporate Social Responsibility (CSR) in India represents a major shift from voluntary philanthropy and welfare-oriented activities towards a more structured, strategic and legally supported approach to social responsibility. This phase is generally associated with the period beginning around 2014, following the introduction of mandatory CSR provisions under the Companies Act, 2013. The earlier phases of CSR in India were largely influenced by charity, philanthropy, Gandhian trusteeship, state-controlled development and corporate responsibility towards employees and communities. The fifth phase, however, made CSR an organised part of corporate governance and development planning. ([ResearchGate][1]) One of the most important elements of the fifth phase is the legalisation and institutionalisation of CSR. Section 135 of the Companies Act, 2013 created a statutory framework for CSR for qualifying companies. The law requires eligible companies to constitute a CSR Committee, formulate a CSR policy and undertake CSR activities in accordance with prescribed requirements. This changed CSR from an activity dependent mainly on the voluntary interest of individual companies into a more systematic corporate responsibility. The legal framework also encouraged companies to allocate resources specifically for social development. A second important element is the allocation of financial resources for social development. Under the CSR framework, qualifying companies are required to spend, subject to the conditions of the law, at least 2 percent of the average net profits of the preceding three financial years on CSR activities. This provision is significant because it gives CSR a dedicated financial foundation. Companies can therefore plan projects with defined budgets rather than depending only on occasional donations or charitable contributions. The availability of a regular financial commitment also makes it possible to undertake larger and longer-term development programmes. The fifth phase also emphasises strategic and mission-oriented CSR. CSR is no longer viewed simply as giving money to charitable organisations. Companies are increasingly expected to ______ ________ ________ ____ ____ _________ _________ ___ _____.
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