CORPORATE SOCIAL RESPONSIBILITY AND ITS PLURALISTIC APPROACH DURING THE COVID-19 PANDEMIC

Abstract

CSR is the model through which the firms contribute towards the social and economic development of the country by engaging in the work of social welfare which impacts the environment around and helps in achieving a greater good of the society. CSR and Corporate Governance are two sides of the same coin. Corporate governance practices encourage a body corporate to perform its activities well internally and also to act responsibly externally. So, a firm having good corporate governance practice acts as a first step toward CSR. This paper will discuss in detail the criteria which needs to be satisfied by the companies to comply with the CSR provisions and also the composition of the CSR Committee. The authors will further discuss the relation between CSR and Corporate Governance and also the association between Globalization and Corporate Social Responsibility. The authors will then focus on the main theme of the paper and will provide a detailed analysis of the CSR activities undertaken during the times of COVID-19 pandemic. The paper will deal with the implications of CSR during the pandemic and also with the contributions made during these times. The authors will provide a detailed framework of the activities undertaken by the Indian companies during these times in a sect-oral differentiation like education, healthcare etc. The paper will also discuss the problems faced by the companies to meet the CSR provisions during these times and the imbalances faced in the supply chain will also be discussed.