In FY15, India Inc took to social causes in a big way
The move to make corporate social responsibility (CSR) spending mandatory has resulted in a spurt in social spending by India Inc. Spending on CSR activities by top 100 companies increased to Rs 5,240 crore in 2014-15. The figure stood at Rs 3,000 crore in 2012-13, when CSR spending was voluntary. Corporate governance firm Institutional Investor Advisory Services projects spending will increase to Rs 8,500 crore in the current financial year...According to IiAS, CSR spends in FY15 were around 26 per cent lower than the prescribed amount.