Education As A Keystone Of Corporate Social Responsibility In The Corporate Sector: Challenges And Path For Development

Abstract

Some Indian corporates are strongly involved in philanthropic projects and focus on educational sector as the part of their Corporate Social Responsibility, many drives are implemented by corporates in joint collaboration with non-governmental organizations who are very comfortable in working with the local communities and are experts in handling particular social issues. According to Schedule VII of Companies Act 2013, promotion of education is regarded as Corporate Social Responsibility policy of company even though several major corporates running their businesses for profit making by marketising the education. The challenges in the education sector related to accessibility, quality, retention, low capacity of teachers, enrolment, girl enrolment and retention issues, skill building etc. have serious consequences on the growth and progress potential of the country. These challenges require concrete efforts towards this corporate help can accelerate education reform and bring about the much needed social development. This research tries to investigate the role of educational institutes and corporates to surpass the Corporate Social Responsibility for creating best human capital and also explores the importance of CSR for promoting education and different drives of the companies in education sector as a corporate responsibility to help the educational sector.