Should CSR be mandated by Govt.?

I still remember one question asked during my NCC selection interview in my school days, “Should we make the attendance compulsory on 15th Aug and 26th Jan for students? And I my answer was , “No we should not.” Because I used to believe that the patriotism should come from within and people should not work out of compulsion. People should be self motivated but they rejected me and I kept thinking where did I go wrong?

Now I realize that there are very few people who are self motivated and to bring them to action legislation is necessary.
India may make CSR law this headline making news in corporate world. CSR activities are still taken as charitable initiatives by most companies in India. The government will look at all options, including legislation, to make more companies adopt corporate social responsibility (CSR), Corporate Affairs Minister Salman Khurshid said.
"You can't hope that everything will work without a basic legislative line drawn. But where that line should be drawn must come by way of consensus from industry," Khurshid said.
CSR activities are still taken as charitable initiatives by most companies. But there are a few which have embedded their CSR activities with their existing business models. Among these are the ITC group, the Tatas, Bharti Airtel and state-run firms like the State Bank of India.
But many people are against this bill. In their opinion CSR should not be compulsory but corporate should feel responsibility from within and take actions accordingly. But will this work? Are there self motivated companies except few? Are they giving back society in proportion to what they take from society like nature.. The money..???? And if yes then why didn’t I get selected for my NCC interview?

Latest update dated 23rd Dec. 2010 ET: CSR spending may not be mandatory. Companies will have to have a policy as to how they will spend the 2% of their profits on and there must be disclosure if the money has been spent,