Profit can be financial and/ or non-financial. Mandated CSR is thus a new area of study that is based on the philosophy that ‘CSR should contribute to the national agenda in emerging economies,’ under some statutory guidelines as laid down by the Government.īut, business houses, do look for maximising its profit. India, in recent times came into the limelight with its mandated CSR policy that was incorporated into its Companies Act 2013, which became operational from the financial year 2014 - 2015. In the developed economy, it takes the form of sustainability and/ or philanthropy, whereas, in emerging economies, it speaks the language of religious, political and/ or mandated CSR. Corporate Social Responsibility (CSR) is like a chameleon, that changes its colour according to the context it is in.