The present edition of this book is redesigned to coverthe whole spectrum of the social responsibilities of Indian corporate houses. A growing body of thought and practice in the field of Corporate Social and Environmental Responsibility (CSER) has been attempting to increase the pressure on companies to behave in a socially responsible manner through corporate self-regulation and voluntary initiatives. This edition is redesigned into five chapters that deals with the interface between business and society; CSR initiative by business houses, industrial associations and NGOs; driving forces and liberalization. It is hoped that the new edition will be important source of information for the students, teachers, and researchers of management, commerce, and political economics.