Highest share of CSR funds went to education in 2016-21: Data -Saubhadra Chatterji
India Inc. has utilised the highest share of its mandated Corporate Social Responsibility (CSR) fund in the education sector, followed by health and rural development between FY16-17 and FY20-21, according to data available with the Union ministry of corporate affairs.
During these five financial years, the education sector received 29,918 crore in CSR funds. The health sector received 2,0716 crore, and rural development and related schemes got 9,820 crore, the data showed.
The broad framework for CSR has been provided under Section 135 and Schedule VII of the Companies Act and the Companies (CSR Policy) Rules, 2014. CSR spending is mandatory for Indian companies with more than 1,000 crore of turnover or net profit of at least 5 crores and corporates are required to file annual details on their CSR activities with the government.
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Hindustan Times, 30 December, 2022, https://www.hindustantimes.com/india-news/highest-share-of-csr-funds-went-to-education-in-2016-21-data-101672341868509.html
Tagged with: Corporate Social Responsibility Education Health Rural Development CSR