The Reshaping of Corporate Social Responsibility (CSR) in Covid-19 Times

Abstract

Given COVID-19's unparalleled status as worldwide public health and economic disaster, the consequences for society, including companies, are nearly unthinkable. Since India became the first country in the world to impose a legal need for CSR in 2014, the concept has been evolving ever since. As India faces the second wave of the Covid-19 epidemic in 2021, a number of recent events have set the ground for dramatic transformations in the way companies approach social responsibility and collaborate with the social sector. The ministry of corporate affairs (MCA) has issued various clarifications on what corporations might consider as part of their CSR spend amid urgent increasing health care needs, as India pushes over four lakh Covid-19 cases per day in April. The most recent statement, made on May 5, was that enterprises may utilize CSR funding to build health infrastructure for Covid-19 care, including medical oxygen and storage plants, as well as manufacture and delivery of oxygen concentrators, ventilators, cylinders, and other medical equipment. This article examines the current epidemic from the perspective of corporate social responsibility (CSR) and its requirement for reshaping.