Expanding the Lense of Indian Corporate Social Responsibility
India has been at the forefront of the corporate social responsibility (CSR) paradigm, much before the introduction of Section 135 of Companies Act, 2013, which made CSR a regulatory requirement. As per data filed by companies on the Ministry of Corporate Affairs portal, around 20,000 companies had reported spending on CSR, with total spend amounting to INR 13,465 Cr in 16-17. Total public expenditure in 16-17 on agriculture and farmers’ welfare, rural sector and social sector (including education, healthcare, skills) was estimated at Rs 9,84,000 crores. The CSR spend that year was Rs.13,465 Cr. – 1.36% of the public spending. If CSR’s monetary contribution is less than a fraction of what the government is earmarking for the nation’s growth, then, in what capacity can CSR optimize its contributions towards sustainable development? How can companies catalyze innovation and creativity to maximize scalable impact, stretch CSR budgets further and move the needle? To deliver on the promise of reinvigorating the development sector, the very nature of how companies implement CSR needs to evolve: from inputs to outcomes, from individual to ecosystem, and from delivering services to building capacity and enabling the market. In other words, companies need to evolve from Compliance-driven CSR Strategic CSR Catalytic CSR. This report explains different models under catalytic and takes a case study approach to demonstrate its execution, effectiveness and ability to amplify impact.