Impact of Corporate Social Responsibility (CSR) on Socio - Economic Development in Odisha: Review of Literature

Abstract

For in-depth analysis of research project clear understanding of concept is absolutely necessary. In this paper an attempt has been made through detailed review of past literature to understand various issues relating CSR and related activities. Issues and developments related to CSR in Mahanadi Coalfields Limited (MCL) and factors influencing it have been observed and noted by experts are discussed in short. This review makes it clear that inspite of number of studies it is somewhat missing certain aspects. Hence present review study is an addition to existing literature as both social and economic benefits are assessed concurrently. Besides group wise analysis is also an added dimension to existing review.

Introduction

The literature review highlights the critical role of reviewing existing research to build a solid foundation, identify gaps, and understand the current state of knowledge on Corporate Social Responsibility (CSR), especially related to the coal sector in Odisha (Mahanadi Coalfields Limited). CSR is seen as integral to socio-economic development, and many studies, both in India and internationally, examine its impact, policies, and practices.

Key findings from various studies include:

• CSR positively influences both financial and non-financial performance of firms, with stock-listed companies often performing better (Mishra & Suar, 2010).

• Organizational culture and business ethics significantly enhance CSR implementation, particularly in industries like IT (James, 2010).

• CSR initiatives play a vital role in rural development and are considered essential across sectors regardless of company size (Pradhan & Ranjan, 2010).

• Indian firms increasingly adopt CSR post-liberalization for competitive advantage and social transformation (Rahul, 2010).

• The motivations behind CSR spending can be complex, sometimes influenced by social or political pressures (Mishra, 2011).

• CSR is viewed as an obligation for firms to benefit society beyond direct business gains (Sharma, 2011).

• Large corporations like the TATA Group see CSR as essential beyond profitability, aiming for societal harmony (Srivastava et al., 2012).

• CSR positively correlates with firm performance, especially regarding employees, community, customers, and suppliers (Krishnan, 2012).

• Firms sometimes use CSR to offset corporate social irresponsibility (Kotchen & Moon, 2012).

• CSR adoption varies across industries, with IT and automotive sectors more active than FMCG (Sharma & Kiran, 2012).

• Legal mandates (e.g., 2% net profit for CSR) in India have formalized CSR contributions, though practical challenges remain (Premlata & Agarwal, 2013).

• Indian firms primarily follow a stakeholder approach to CSR, with moral and strategic motives driving engagement; resource constraints and implementation complexity remain barriers (Justice & Puranik, 2015).

• CSR fosters better industry-community relations, work environments, customer relations, and corporate image (Kerby, 2018).

Overall, the review underscores CSR’s growing importance in India’s economic and social development and emphasizes continuous research and practical efforts to optimize CSR’s impact.

Conclusion

On basis of review done by us some general conclusions have been drawn. Following gaps emerge from review and there exists scope for future research: 1) India is an emerging market and CSR activities are considered as backbone of economic development. Any change in its processes is deemed to have repercussions on country’s growth, accounting and finance. 2) There have been few studies focusing on Impact of CSR on Socio Economic Development of Odisha after 2010. 3) Till 2010 CSR system had more or less confined its activities to selected and few activities and thus helped only in limited area and population. Essential part of CSR system is its social viability and impact. It is not only necessary for society but also to discharge its various obligations for future generations. 4) Role of CSR in Odisha remained confined to providing vehicle for the community’s growth and to only certain selected and limited segments of society before 2010. These were influenced primarily by commercial principle and not by developmental factor. 5) Earlier studies conducted in evaluation of impact of CSR through parameters of socio and economic development in wake of new CSR Act and Rules are note noteworthy. This review makes it clear that inspite of number of studies it is somewhat missing certain aspects. Hence present review study is an addition to existing literature as both social and economic benefits are assessed concurrently. Besides group wise analysis is also an added dimension to existing review.

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Copyright © 2025 Mr. Munjeti Benudhar Naidu, Dr. Ramesh Chandra Das. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.