From Compliance to Contribution: CSR Expenditure as A Driver of India’s Growth and Sustainable Development (2017-18 – 2022-23)

Dr. Kiran S. Temkar
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Dr. Kiran S. Temkar: Assoc. Prof. Dept. Of Accountancy S.K. Somaiya College of Arts, Science and Commerce, Vidyavihar, Mumbai-400077.

International Journal of Research and Scientific Innovation, 2025, vol. 12, issue 7, 1339-1344

Abstract: Corporate Social Responsibility (CSR) in India has emerged as a critical driver of socio-economic development since the enactment of Section 135 of the Companies Act, 2013. This study examines the trends, impact, and alignment of CSR expenditure with national priorities from 2017–18 to 2022–23, a period marked by significant regulatory evolution and dynamic socio-economic challenges. Using data from the Ministry of Corporate Affairs (MCA), NITI Aayog, and corporate reports, the research analyzes CSR spending patterns, evaluates their socio-economic outcomes, and assesses their alignment with Sustainable Development Goals (SDGs) and government initiatives. The findings reveal a 160% growth in CSR expenditure, rising from ₹10,065 crore in 2017–18 to ₹26,210 crore in 2022–23, with education (35%), healthcare (30%), and renewable energy (12%) emerging as top-funded sectors. Case studies, such as Tata Power’s solar electrification projects and Apollo Hospitals’ mobile clinics, highlight the transformative potential of CSR in improving education access, healthcare outcomes, and rural infrastructure. However, regional disparities persist, with states like Maharashtra and Gujarat receiving significantly higher CSR funds compared to the Northeast and tribal regions. The study also underscores the strong alignment of CSR spending with SDGs, particularly SDG 3 (Health), SDG 4 (Education), and SDG 7 (Energy). Despite this alignment, gaps in monitoring frameworks and community participation limit the long-term sustainability of CSR initiatives. This research concludes that while CSR has transitioned from a compliance-driven obligation to a strategic tool for inclusive growth, there is a pressing need for policy reforms to address regional imbalances, enhance transparency, and strengthen impact assessment mechanisms. The findings offer actionable insights for policymakers, corporates, and development practitioners to optimize CSR’s contribution to India’s socio-economic progress.

Date: 2025
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