CSR expenditure rises 47%, India Inc spend hits Rs 7,536.3-cr mark
In corporate social responsibility (CSR) activities, companies in India spent Rs 7,536.3 crore in 2017-18, a 47 per cent rise compared to 2014-15, said KPMG India CSR Reporting Survey 2018, adding "This is a significant rise, clearly demonstrating higher expenditure towards CSR activities from the mandated year, 2014."
The cumulative expenditure by top 100 companies from 2014-15 to 2017-18 is about Rs 26,385 crore, PTI report said citing the survey. The average amount spent per company has reportedly gone up to Rs 76.1 crore as compared to Rs 58.8 crore during 2014-15, up 29 per cent. Image source: PTI
Further, the survey stated that the total unspent amount has reduced by Rs 749 crore to Rs 989 crore during 2017-18 from Rs 1,738 crore in 2014-15. Image source: Pixabay
According to the survey, the highest amount was spent by energy and power sectors towards CSR at Rs 2,464.96 crore, followed by BFSI at Rs 1,352.67 crore, customer products at Rs 635.41 crore, IT consulting and software at Rs 1,100 crore and mining and metal at Rs 647.12 crore. Image source: Pixabay
The number of companies that have spent less than 2 per cent has also substantially come down by 37 per cent to 33 companies in 2017-18 from 52 in 2014-15, the survey reportedly said. Image source: Pixabay
State-wise, Maharashtra, Gujarat, Rajasthan, Uttar Pradesh and Karnataka are the top five states from an expenditure perspective, the survey added. Image source: Pixabay