Data available with the ministry’s CSR portal showed that 8,632 companies spent ₹20,359 crore in FY21 across 25,000 projects. Maharashtra, Gujarat, Karnataka, Delhi and Tamil Nadu were top recipients of CSR funds in FY21, with blue chip public and private sector firms contributing the bulk
NEW DELHI (India CSR): Spending on corporate social responsibility (CSR) by companies in the most backward districts in the country rose in FY21, according to data from the ministry of corporate affairs.
The ministry informed the Parliament that companies spent over ₹507 crore in 84 backward districts identified by the NITI Aayog in FY21, against nearly ₹332 crore spent in 82 aspirational districts in FY20.
The data available was as of 31 December 2021. The ministry clarified that data for FY21 is subject to change as levy of additional fees for late filing had been relaxed till 15 March 2022.
The ministry said CSR is a process driven by the board of directors of a company which is empowered to plan, decide, execute and monitor such activities based on the recommendations of its CSR committee. The government does not issue any directions to companies to spend in a particular geographical area or activity, the ministry said in a written reply to a question.
Data available with the ministry’s CSR portal showed that 8,632 companies spent ₹20,359 crore in FY21 across 25,000 projects. Maharashtra, Gujarat, Karnataka, Delhi and Tamil Nadu were top recipients of CSR funds in FY21, with blue chip public and private sector firms contributing the bulk.
Companies with a net worth of ₹500 crore or more, or a turnover of ₹1,000 crore or more, or net profit of ₹five crore or more, are required to spend 2% of their average net profit of the preceding three years on CSR activities. Defaults are treated as a civil wrong.
(India CSR)
