The broad framework for Corporate Social Responsibility (CSR) has been provided under Section 135 of the Companies Act, 2013
GANDHINAGAR: Private companies and public sector undertakings (PSUs) spent close to Rs 1,400 crore in 2020-21 in Gujarat as part of their corporate social responsibility (CSR), the Union government informed the parliament.
Kutch BJP MP Vinod Chavda sought to know from the ministry of statistics and programme implementation and the ministry of corporate affairs the status of the funds allocated by government agencies and private firms under CSR.
The MP also sought information on the activities taken up using the CSR funds in Gujarat.
Details provided by the union government indicate that there has been a steady increase in CSR spending by companies over the past five years, except for a minor drop in 2019-20 compared to the previous year.
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In reply to the question, the Union government said, โOn the basis of annual filings made by companies, the CSR funds spent by companies in the state of Gujarat during the financial years (FY) 2016-17, 2017-18, 2018-19, 2019-20 and 2020-21 respectively are Rs 864.83 crore, Rs 967.97 crore, Rs 1,082.09 crore, Rs 982.53 crore and Rs 1,397.26 crore respectively.โ
The broad framework for Corporate Social Responsibility (CSR) has been provided under Section 135 of the Companies Act, 2013, and Companies (CSR Policy) Rules, 2014, the Union government said.
Figures provided by the Union government indicate that maximum CSR funds have been spent on health and education in Gujarat. In 2020-21, a sum of Rs 588.24 crore was spent on healthcare and Rs 401.71 crore on education. The CSR spending registered the highest jump in 2020-21 at Rs 1,397 crore as compared to the CSR spending of Rs 982 crore in the previous year.
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(India CSR)
