Spending on CSR is not new in India. It has raised a lot of expectations and gained growing recognition as a new and emerging form of governance in India after legislating of CSR mandate in Companies Act, 2013, w.e.f 1st April, 2014. India has become the first country to mandate CSR through a statutory provision. Countries like U.K, U.S.A, China, Germany and Australia have voluntary guidelines for CSR spending/reporting.