Experts’ Corner

When governments reform taxes, the most visible debates usually revolve around consumption and fiscal spending. What often goes unnoticed is how tax changes ripple into the way corporations invest in society. A rich stream of international research shows that when firms receive windfalls from tax reductions, many do not merely increase dividends or capital expenditure—they also raise their corporate social responsibility (CSR) commitments. What research tells us about tax cuts and CSR Scholarly work across multiple countries demonstrates that tax cuts tend to be followed by improvements in CSR performance. A recent study by Chang, Jin, Yang, and Zhang (2025) used natural experiments in corporate income tax reforms and found that tax reductions led to substantial CSR gains, especially in

It is a widely accepted business principle that companies must generate profit to sustain and grow. In 1981, economist Milton Friedman famously stated, “The business of business is business,” emphasizing that a company’s primary responsibility is to its shareholders. Yet, he also acknowledged that businesses must operate within legal and ethical boundaries. Today, profit generation must be balanced with compliance, sustainability, and social responsibility to ensure long-term success and societal acceptance. India’s Journey: From Trade Powerhouse to Development Challenges Historically, India contributed nearly 34% of global trade in the early 18th century. However, during colonial rule, this share fell drastically to 1.4% by independence in 1947. Poverty surged to nearly 80%, creating deep inequalities that persist. A 2021 Oxfam report

In December 2023, the Prime Minister, Shri Narendra Modi gave an ambitious clarion call for transforming the nation into a fully developed, globally influential country— Viksit Bharat – by 2047. Viksit Bharat 2047, which envisions inclusive development, sustainable progress, and effective governance, among others, is based on four pillars: Yuva (Youth), Gareeb (Poor), Mahilayen (Women) and Annadata (Farmers). These pillars also align with some of the key tenets of the Sustainable Development Goals (SDGs) adopted by nations across the world in September 2015, to tackle challenges related to global sustainable development and achieve a more sustainable future by 2030. In that context, the then UN Secretary-General Ban Ki-moon had remarked that the private sector was required to partner with the

When India amended the Companies Act in 2013 to introduce Section 135, mandating Corporate Social Responsibility (CSR) for qualifying companies, it marked a historic moment—not just for India, but for the global discourse on responsible business. India became the first country to legislate CSR, effectively transforming voluntary philanthropy into a structured, accountable, and strategic endeavor. Now, as we complete a decade of this landmark legislation, the CSR landscape in India has undergone a remarkable evolution—moving from ad hoc donations to purpose-driven interventions aligned with national development priorities. This journey offers lessons in innovation, partnerships, governance, and the expanding role of businesses in nation-building. CSR as a Boardroom Agenda Over the past ten years, CSR has transitioned from the periphery to

SPEECH BY SHRI NITIN GADKARI AT THE 12TH NATIONAL CSR SUMMIT 2025 First of all, I would like to congratulate everyone on this 12th National Corporate Social Responsibility Summit. This is a law that has been very helpful in changing the socio-economic picture of our country for the past many years. It is a part and parcel of society; what we earn from our society, we should return to it, which was the basic principle of this law. We have a song called “Chalo jalaye deep waha abhi abhi andhera hai.” There are many sectors in our society where people are socially, economically, and educationally backwards. We can change their lives with our positive efforts. I have been working in

Over the past decade, Corporate Social Responsibility (CSR) in India has evolved remarkably— from sporadic acts of corporate goodwill to a legally mandated mechanism, and now towards becoming a powerful force in nation-building. It’s no surprise, then, that the theme of the CSR Times Awards 2025, “The Role of CSR in Mission Viksit Bharat by 2047”, sparked vibrant discussion among policymakers, corporate leaders, and development practitioners. This is not a nominal figure. In FY 2023– 24 alone, according to the National CSR Portal, approximately `34,908.75 crore was spent by nearly 27,200 companies. These investments spanned critical sectors such as education, healthcare, rural development, social welfare, sports, and the environment sectors, essential for India’s leap from a developing nation to a

The panel discussion on “Role of CSR in Mission Viksit Bharat by 2047” convened eminent leaders from industry and social sectors to deliberate on how Corporate Social Responsibility (CSR) can be a transformative force in realizing India’s vision of becoming a developed nation by 2047. The session, moderated by Dr. Somnath Singh, provided critical insights into leveraging CSR beyond compliance to create large-scale, sustainable, and inclusive development impacts. Dr. Singh opened the discussion by emphasizing that Mission Viksit Bharat 2047 is not merely a government aspiration but a collective national mission requiring active participation from businesses, civil society, and communities. CSR, he stressed, must evolve into a strategic enabler of social change, environmental resilience, and economic empowerment. He said “Mission

The panel discussion on “Role of CSR in Mission Viksit Bharat by 2047” convened eminent leaders from industry and social sectors to deliberate on how Corporate Social Responsibility (CSR) can be a transformative force in realizing India’s vision of becoming a developed nation by 2047. The session, moderated by Dr. Somnath Singh, provided critical insights into leveraging CSR beyond compliance to create large-scale, sustainable, and inclusive development impacts. Dr. Singh opened the discussion by emphasizing that Mission Viksit Bharat 2047 is not merely a government aspiration but a collective national mission requiring active participation from businesses, civil society, and communities. CSR, he stressed, must evolve into a strategic enabler of social change, environmental resilience, and economic empowerment. He said “Mission

As India ascends the ranks to become the third-largest economy in the world, it faces a paradox: impressive GDP growth coexists with underwhelming performance in key social development areas. During the recently concluded 12th National CSR Summit, the panel discussion on the “Role of Social Entrepreneurs and Organisations in Nation Building,” moderated by Mr. K C Sreenath – Development Communication Consultant – had the experts deliberating on this disconnect, highlighting the role of grassroots efforts, CSR initiatives, and policy- level interventions in bridging this gap. According to the SDG Report 2025, India ranks 99th globally in social development, despite climbing nine places since the previous year. This reflects progress, but also reveals how much work lies ahead — particularly in