Analyze the Impact of Corporate Social Responsibility on Socio-Economic Empowerment in National Capital Regions and Haryana

Abstract

Over the past few decades, Corporate Social Responsibility (CSR); a concept relatively new to India; has gained significant momentum and emerged as an essential element of responsible business conduct. Initially seen as voluntary philanthropy, CSR has now become a strategic business practice, particularly among large corporations and contributing in different social-economic issues in India. Its similar impact has also noticed in the National capital Regions and Haryana. Therefore, present study is conducted with the aim evaluate the role of Corporate Social Responsibility and its challenges in socio-economic empowerment of the society in National Capital Regions and Haryana. This study has adopted a descriptive research design using both quantitative and qualitative approaches. It is explored that CSR in India has deep roots in traditional philanthropic values, but its modern form took a structured shape with the enactment of the Companies Act, 2013. It is further highlighted that Corporate Social Responsibility (CSR) has emerged as a pivotal component of modern business strategy, with organizations increasingly integrating social, environmental, and ethical considerations into their operational frameworks. This paper explored the evolving landscape of CSR initiatives, emphasizing their transformative impact on sustainable development and found the measurable improvements in access to education, healthcare, and livelihood opportunities for disadvantaged groups. Furthermore, the paper highlights major challenges hindering the effective implementation of CSR in India. Author provided insightful suggestions to strengthen CSR practices, improve community engagement, and ensure sustainable social impact through integration of social and adopting collaborative approach.