Vedanta Limited Amplifies Commitment to CSR with Significant Financial Investments
NEW DELHI (India CSR): Vedanta Limited, a global leader in sustainable development, has consistently proven its commitment to Corporate Social Responsibility (CSR) through substantial financial investment in community development. In the fiscal year 2023, Vedanta spent a noteworthy Rs. 454 crore on various community programmes, showing a steadfast commitment towards making a difference in society.
Persistent Investment in Community Development
The company’s spend on community development programmes has seen a consistent rise, leading to a total expenditure of more than Rs. 1,750 crore on community development activities in the last five years.
This level of financial commitment underlines the firm’s dedicated efforts to effect significant change in their focus areas and contribute to initiatives of national importance.
Exceeding CSR Obligations
A financial analysis of Vedanta’s CSR activities reveals a committed effort to exceed statutory requirements. As per Indian laws under Section 135(5), companies are required to spend at least 2% of their average net profits on CSR activities.
Vedanta Limited not only met this obligation but exceeded it in FY 2023, spending a total of Rs. 124.88 crore. This amount was Rs. 12.88 crore more than the mandated 2% of the company’s average net profit, demonstrating the company’s commitment to going beyond the minimum statutory requirements in its CSR initiatives.
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