Citation:

Dr. B. Sandhya Rani, Ch. Roja Rani. "Corporate Social Responsibility in Top 5 Maharathna Companies in India" International Research Journal of Economics and Management Studies, Vol. 1, No. 2, pp. 33-38, 2022.

Abstract:

CSR has spread to many different industries. The majority of the businesses appear to be involved in different CSR and charity initiatives. With the passing of the Companies Act of 2013, which among other things required businesses to spend 2% of their average net earnings over the previous three years on CSR, the dynamics of CSR in India underwent a significant transformation. Over a century ago, corporate social responsibility was first defined as philanthropy, but as time went on, the term evolved to include accountability for the organisation towards its numerous stakeholders. The current study sought to determine the total CSR spending of Maharathna enterprises over the previous five years, from 2017–2018 to 2021–2022, as well as the percentage of CSR spending allocated to specific activities. The study solely relies on secondary data that was gathered from a variety of sources, including the annual reports and respective websites of the top 5 Maharashtrian enterprises. This secondary data was then examined using statistical methods including mean, standard deviation, percentage, etc The average profits of the five Maharathna Companies correlated positively. Average profitability and CSR spending are significantly different. As the calculated value is 0.98, it is considered to be Very High positive correlation.

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Keywords:

CSR expenditure, CSR Spending, Maharathna companies.