Companies shelled out Rs 1.09 lakh crore for various corporate social responsibility (CSR) activities, says the corporate affairs ministry. The activities included poverty eradication, health and education.
Rao Inderjit Singh, Minister of State for Corporate Affairs, said that since the enactment of CSR provision in April 2014, companies are responding positively and have shown encouraging signs in adopting the culture of being responsible towards the society.
“This is manifested through the increase in CSR spent by the companies during the period 2014-15 to 2020-21. During this period, companies have spent around Rs 1.09 lakh crore in different activities,” Singh told the Lok Sabha in a written statement. The activities include those related to health, education, poverty eradication, hunger, women empowerment, welfare of armed forces veterans, environment, sports, rural development, slum development and welfare of weaker sections.
The minister said that on the basis of filings made by the companies in the MCA21 registry till September 30, 2021, a cumulative amount of Rs 85,109.09 crore has been spent by companies under CSR during the financial years 2016-17 to 2020-21. “Out of the total amount, Rs 46,654.52 crore have been spent by the top 100 companies during the same period.
Singh said the philosophy is to engage corporates as partners in the socio-economic development of India by leveraging their managerial efficiency, best practices, technology and innovation in the delivery of public good and services.