According to the recent survey, companies in India spent Rs 7,536.3 crore on corporate social responsibility (CSR) activities in 2017-18, a whopping 47 per cent rise compared to FY 2014-15.
This is a clear indication that how the Corporates are taking up their CSR activities on serious note since its mandated year 2014. As per the survey conducted, the cumulative expenditure by top 100 companies from 2014-15 to 2017-18 is about Rs 26,385 crore.
This is the fourth year into the report and also the government regulation on spending 2 per cent on CSR alone. This year, the two outcomes which are showing progress due to the regulation are - governance around CSR and contribution of private sectors in the development.
Energy and power sectors have spent the highest amount towards CSR at Rs 2,464.96 crore followed by BFSI at Rs 1,352.67 crore, consumer products at Rs 635.41 crore, IT consulting and software at Rs 1,100 crore and mining and metal at Rs 647.12 crore.
The number of companies that have spent less than 2 per cent has also substantially reduced by 37
per cent from 52 companies in 2014-15 to 33 companies in 2017-18.
State-wise; Maharashtra, Gujarat, Rajasthan, Uttar Pradesh and Karnataka are the top five states from an expenditure perspective.