CSR spend touch Rs 26,000 cr during 2014-18
Virendra Singh Rawat Lucknow / Dec 31, 2018
Reflecting growing social consciousness among India Inc, the cumulative Corporate Social Responsibility (CSR) expenditure by top 100 companies stood at Rs 26,385 crore during 4 years from 2014-15 to 2017-18.
As per the recent survey by KPMG on India CSR Reporting 2018, the CSR expenditure rose 47% in 4 years to FY18. The key aspects of the CSR spend included: –
• Total unspent amount reduced by Rs 749 crore to Rs 989 crore during 2017-18 from Rs 1,738 crore in 2014-15.
• Energy and power sectors spent the highest CSR kitty at Rs 2,465 crore followed by banking, financial service and insurance (BFSI) at Rs 1,352 crore
• IT consulting and software CSR spend topped Rs 1,100 crore, followed by mining and metal at Rs 647 crore and customer products at Rs 635 crore
• Average amount spent per company went up by 29% to Rs 76 crore compared to Rs 59 crore during 2014-15
• Maharashtra, Gujarat, Rajasthan, Uttar Pradesh and Karnataka figured among the top states from expenditure perspective