IMPACT OF CSR ON HEALTH CARE: AN OVERVIEW

The private sector can play a vital role in upkeep of the public health care system in India through their Corporate Social Responsibility (CSR) funds. As we are aware of the fact that economic growth and sustainable development requires active participation from both the government and corporate houses. The private sector must share responsibility for social progress, particularly by increasing healthcare awareness through CSR financial investments. After the amendment of the Companies Act, profitable companies are mandated to spend 2% of their profits on CSR activities, with education and healthcare emerging as the leading beneficiaries. Although CSR spending on healthcare is relatively lower, its societal impact is significant. Investments in health systems and facilities directly improve public well-being, especially when undertaken by corporate houses in healthcare-related industries such as hospitals, pharmaceuticals, and insurance. Their expertise enhances the effectiveness of CSR initiatives, from promoting safety norms to extending healthcare to underprivileged groups. Moreover, CSR contributions not only generate goodwill and tax benefits for companies but also strengthen their social reputation and marketing potential. This paper aims to uncover the potential of the private sector in terms of its investment in health care measures and programmes and explore how it can enhance and focus on societal needs.