The prime motive of the Companies and the corporations would invariably be profit gains as they are empowered with a legal identity. However, with the way society is advancing with time, Corporate responsibility has shifted towards being accountable to the mass. The objective of the paper is that the every human being has the responsibility to promote growth and equity in lives of those who do not have the resources to do that for themselves. Corporate Social Responsibility is a method of ensuring that the equity which is the fundamental value of any humane society persists. By providing for those who cannot provide for themselves, a dynamic economy is ensured because too much power in any few hands will invariably lead to an autocratic rule. This paper states that Social Accountability is now an umbrella which covers not just direct responsibility but also accounts for vicarious duty of doing the right thing by the society and the environment.

Keywords: Corporate Responsibility; Social Accountability; Sustainable Development.