Corporate social responsibility (CSR): A Development tool

In the context of globalization, the multilayered nature of Corporate Social Responsibility (CSR) (Something over and above meeting the basic economic and legal responsibilities) is identified to day. Awareness of changing social values with the necessary priorities was considered as intermediate layer of duties of the corporate. The development challenges such as poverty, malnutrition, poor infrastructure and discrimination incontrovertibly exist and still persists as objectives yet to be achieved in the Eleventh Five Year Plan (2007–2012). The present study tries to bring forth the fact that the declining state of our environment which has become a global epidemic and environment accounting can be used as one of the tools for making the corporations around the world understand their responsibility and thereby help to sustain the environment. The study consists of three sections. The first section identifies the reasons for the declining state of environment. The second section analyses the need for Public Private Partnership (PPP) in infrastructure sector in India such as Railways, Power, telecom, Roads and Highways, Civil – Aviation. The concluding remarks are given in the third section.