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Shalini Dabholkar is the founder and principal consultant at SocioCatalyst. SocioCatalyst is a CSR consulting firm that bridges the gap between Corporates and NGOs for social development. Shalini shares with us a brief note on the difference between philanthropy and Corporate Social Responsibility, or CSR, and the need to incorporate it into a business model for sustainable development.

“While Corporate Social Responsibility or CSR is not new to India, the amendment of Section 135 and Schedule VII of Companies Act, 2013, has changed everything about it. It makesqualifying Companies spend at least 2% of their average annual profits towards CSR, bringing in a strategic shift from philanthropy to corporate giving in India.

Philanthropy usually ended with a voluntary donation, but Corporate giving demands transparency to shareholders on the utilisation of funds and impact being created in the society, which requires an organised and structured approach to social responsibility.  With stringent FCRA regulations and continued Government incentive schemes, the landscape is evolving much faster than expected.