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India: Listed firms spent Rs.6,400 cr in 2014-15 on CSR, reports Confederation of Indian Industry
Author: SME Times, Published on: 21 December 2015
Over 1,000 Bombay Stock Exchange (BSE)-listed companies together spent Rs.6,400 crore towards corporate social responsibility (CSR) activities last fiscal, the Confederation of Indian Industry (CII)...Over 90 percent of 1,181 companies in a survey complied with the CSR norms and "around Rs.6,400 crore has been spent" in the last fiscal, according to a CII-ITC Centre of Excellence for Sustainable Development report...Almost 55 percent of that has been channelled to education, skills, livelihoods, health and sanitation," it said...According to the report, 87 percent of the eligible listed companies have actually spent on CSR but 52 percent shelled out less than two percent as required...The reasons for spending less are projects being multi-year, or the inability to find the right projects or implementing agencies, it added.