What do you understand by CSR? Discuss the phases of evolution of CSR in India.
CSR, or Corporate Social Responsibility, refers to the concept that businesses should not only focus on generating profits but also consider the social, environmental, and ethical implications of their operations. It involves integrating responsible practices into a company's decision-making processes and contributing to the well-being of society and the environment.
The evolution of CSR in India has undergone several phases, reflecting the changing societal expectations and regulatory landscapes:
1. Philanthropic Phase (Pre-1950s):
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