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Home Corporate Social Responsibility

CSR: Tata Steel Foundation Spends Rs. 511 Cr in FY 2023

India CSR by India CSR
June 18, 2023
in Corporate Social Responsibility
Reading Time: 2 mins read
Tata Steel Foundation

Tata Steel Foundation

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Tata Steel Foundation Exceeds CSR Expenditure Norms, Amplifies Commitment to Societal Betterment

CSR spending sees a significant 17% increase in FY2022-23, surpassing the regulatory mandate

In a landmark move underscoring its unwavering commitment to societal betterment, the Tata Steel Foundation announced it has increased its spending on Corporate Social Responsibility (CSR) activities by 17% in the fiscal year 2022-23. The Foundation reported a total expenditure of INR 511 crore on CSR activities, a significant jump from the previous fiscal year.

Tata Steel, the parent company, significantly contributed to this funding with a contribution of INR 480.62 crore.

This remarkable financial commitment underscores the firm’s unflinching dedication towards creating a positive societal impact.

CSR of Tata Steel

Tata Steel CSR Expenditure Reaches Rs. 481 Cr, Marking An Ever-Highest Growth Of 18% In FY 2023 (Also Read)

The Foundation’s expenditure for the year notably exceeded the regulatory mandate of 2% of the average net profit of the preceding three financial years.

This act of surpassing the set statutory requirement positions the Tata Steel Foundation as an exemplar in the field of corporate social responsibility, demonstrating what diligent CSR practices can achieve in fostering societal betterment.

The increase in expenditure is expected to further enhance the reach and depth of the Foundation’s initiatives, contributing towards a more equitable and inclusive society. This action sets a lofty benchmark for other corporations, underlining the significant potential of corporate India in contributing to societal progress.

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India CSR is the largest media on CSR and sustainability offering diverse content across multisectoral issues on business responsibility. It covers Sustainable Development, Corporate Social Responsibility (CSR), Sustainability, and related issues in India. Founded in 2009, the organisation aspires to become a globally admired media that offers valuable information to its readers through responsible reporting.

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