Tata Group Company – Tata Consultancy Services (TCS), a global leader in technology and consultancy, has demonstrated its commitment to the socio-economic development of society. As per its recent annual report, Company has invested Rs. 663 crores on various sustainable development programmes, against its prescribed CSR expenditure. Average net profit of the company for the year was Rs. 30,003 crores.
As per section 135 of the Companies Act, 2013, amount required to be spent by the Company during the years ended March 31, 2021 and 2020 is Rs. 663 crore and Rs. 600 crores, respectively, computed at 2% of its average net profit for the immediately preceding three financial years, on CSR.
The Company incurred an amount of Rs. 674 crore and Rs. 602 crores during the years ended March 31, 2021 and 2020, respectively, towards CSR expenditure for purposes other than construction / acquisition of any asset.
The CSR initiatives of the Company are executed by a skilled team who ensure impact-focused implementation, monitoring, and reporting. Successful adoption of programs is evidenced by the following impact achieved in its strategic programs:
- 23,800 rural youth employed through Youth Employment Program
- 325,000 villagers supported with digital services by 466 BridgeIT entrepreneurs
- 1.07 million individuals, including over 70,000 prison inmates, made literate though the Adult Literacy Program
|2020-21||Rs. 664 Crores|
|2019-20||Rs. 600 Crores|
|2018-19||Rs. 542 Crores|
TCS has been conducting internal impact assessments to monitor and evaluate its strategic CSR programs. The Company takes cognizance of sub-rule (3) of rule 8 of the Companies CSR Policy Rules 2014 and has initiated steps to conduct impact assessment of CSR projects through an independent agency. There are no projects undertaken or completed after January 22, 2021, for which the impact assessment report is applicable in FY 2021.
TCS’ vision is to empower communities by connecting people to opportunities in the digital economy and mission is to build inclusive, equitable and sustainable pathways for all including youth, women and marginalized communities.
By prioritizing TCS’ focus on education, skilling, entrepreneurship and employment it seeks to help people and communities bridge the opportunity gap. The Company also supports health, wellness, water, sanitation and hygiene needs of communities, especially those that are marginalized. TCS also supports conservation and relief efforts to communities at the time of natural and man-made disasters. Its focus on preserving art and heritage as well as supporting action against climate change remains consistent.
By applying its resources towards communities that need it the most, TCS ensures equitable access. The Company’s CSR strategy incorporates an inclusive approach into the design of every program. In India this is aligned to its support of the Government of India’s Affirmative Action Policy and the Tata Group’s Affirmative Action Program.
To achieve transformational impact, TCS leverages the best of the Company’s capabilities – its intellectual, technology, human and financial capital. TCS aims to create innovative solutions to societal challenges applying its contextual knowledge while harnessing the expertise of a diverse network of leaders; execute and scale programs using its technology capabilities; engage its large employee base to volunteer their time, skills and expertise as last-mile connectors and make impact investments in large scale, sustainable, multi-year programs that empower communities.
TCS Foundation, a Section 8 company incorporated in 2015 with sole objective of carrying on Corporate Social Responsibility (CSR) activities of the Company, has held four meetings during the FY 2021.