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The industrial growth especially, in the recent past, has improved the economy of the countries that have liberalized their economy and welcomed the private investment in the business. Corporates have a motto of profit -making and contributes to the economic growth of the nations. This is not enough for the economic development. They must also have a clear responsibility towards the society. Corporate governance is the current buzzword in India as well as the world over. Good governance always stress on greater accountability of companies to shareholders and customers. It is also important to know that without good corporate governance corporate sector can't perform in a better manner. This has led the emergence of Corporate Social Responsibility practice. Corporate Social Responsibility always aims at sustainable development.