Corporate Social Responsibility Reporting Practices in Cement Industry in India

Abstract

Corporate Social Responsibility (CSR) is a philosophy in which companies take account of society's needs by claiming responsibility in all facets of business on their clients, workers, shareholders, societies and the environment. The commitment to promoting community welfare through the discretionary business activities and contribution of corporate capital is corporate social responsibility. This responsibility goes beyond the statutory regulations to comply with law and provides that organizations, in particular and society as a whole, take voluntary action to improve the quality of life for their staff and family. The standard practice of businesses concerning the disclosure of social responsibility is the definition of the annual reports. The majority of businesses publish only qualitative/descriptive social responsibility information in the annual report, but it will be updated under new legislation (Company Law 2013). This paper aims to examine the gender disparity that is desired by stakeholders in cement companies between current reporting practices and levels of disclosure and to identify areas in which Indian concrete companies can disclose accounting information in a sustainable manner. Under this paper I also explained the points which companies should follow for reporting of corporate social reporting.