India Inc spends 1.09 lakh cR on CSR activities

As per the Companies Act 2013, a specific class of profitable entities need to contribute 2 percent of their three-year average annual net profit towards CSR activities during an entire year

December 21, 2021

Companies are responding positively towards CSR activities.

Rs.85,109,09 CR has been spent between 2016 - 2021.

Activities include poverty eradication, education, health, hunger, women empowerment issues.

CSR activities are known to boost the socio-economic development of the country.

Indian companies have spent Rs 1.09 lakh crore towards various Corporate Social Responsibility (CSR) activities in the last seven financial years. The spending is focused on issues including those related to health, education and poverty eradication, among others, as observed by the Ministry of Corporate Affairs (MCA).

As per the Companies Act 2013, a specific class of profitable entities need to contribute 2 percent of their three-year average annual net profit towards CSR activities during an entire year. 

The Minister of State for Corporate Affairs, Rao Inderjit Singh, also said that companies are responding and look enthusiastic to support the culture and to be responsible towards society, since the enactment of the CSR provision.

The list of activities includes causes related to health, education, hunger and women’s empowerment. Along with poverty eradication and taking action for the betterment of the Indian armed forces, as well as keeping the environment healthy.  

A total of Rs. 85,109,09 crores have been spent by the companies in the MCA21 registry until 30th September, 2021 during the fiscal years 2016-17 to 2020-21. Out of which the top 100 companies have spent around Rs. 46,654.52 crores around the same period, as mentioned in the statement. 

The Minister also said that this helps in facilitating better socio-economic development of the country with the help of managerial efficiency along with newly advanced technology, best practices and efficient delivery of public goods and services.