Corporate Social Responsibility (CSR): India
This is a collection of articles archived for the excellence of their content. |
Contents |
Contributions, year-wise
2014-15: Rs 5,240 crore spent on social activities
The Times of India Jan 07 2016
India is the only country in the world where corporate social responsibility is mandatory. Companies with a net worth of 500 crore or turnover of 1,000 crore or net profit of 5 crore must spend at least 2% of their average net profits of the past three years on CSR. In 2014-15, the first year of compliance, the stipulated companies reported spending 5,240 crore on social activities, though not everyone among the top 100 listed companies, including 21 PSUs, met the minimum spend norm
2016-17
Contribution of IT/BPM industry
This is what Indian IT firms spend CSR money on, November 30, 2017: The Times of India
HIGHLIGHTS
'The IT/BPM Industry has been at the forefront of social development initiatives,' Nasscom Foundation CEO Shrikant Sinha said
62% of the Indian and multinational companies have spent 100% of their CSR funds on education
The survey found that only 5 per cent of IT companies reported spending less than 50 per cent of their CSR budget.The survey found that only 5 per cent of IT companies reported spending less than 50 per cent of their CSR budget.
The Indian IT companies emerged as the major player to spend more of their Corporate Social Responsibility (CSR) funds in 2016-17 on education, a survey conducted by Nasscom Foundation has found. Industry top body Nasscom Foundation at its CSR Leadership Conference said, "Education remains the focus area of IT firms' CSR activities, with 76 per cent of multi-national companies reporting highest spend on it, followed by 18 per cent on gender equality and 12 per cent on hunger and poverty in fiscal 2016-17."
"The IT/BPM Industry has been at the forefront of social development initiatives and it is heartening to see the industry emerging as one of the most efficient and innovative adopters of corporate social responsibility," said Foundation Chief Executive Shrikant Sinha.
He added that, "Technology continues to be a force multiplier in social impact, with more than half of the companies that spent 100 per cent of their CSR funds, claiming efficient use of technology to deliver CSR programmes aligned to the government agenda."
A survey, titled "Catalysing Change", conducted by the Foundation with global CSR platform Goodera revealed that around 62 per cent of the Indian and multinational companies have spent 100 per cent of their CSR funds on education and allied social activities in the last fiscal.
"Only 5 per cent of IT companies reported spending less than 50 per cent of their CSR budget," it added.
Smaller firms below Rs 100 crore turnover are also fully using their CSR funds. While 58 per cent of large firms and 53 per cent of medium firms are spending 100 per cent of their CSR budget, 73 per cent of small firms spend 100 per cent of their CSR budget.
Types of CSR
Oil companies serve the Himalayas
Sanjay Dutta, Oil cos' CSR gets Himalayan flavour, March 27, 2017: The Times of India
Globally , oil companies are known to prefer baking the earth for profit. But in India, Prime Minister Narendra Modi's Swachh Bharat (Clean India) campaign is driving them to the Himalayas -sometimes even outside the country's boundaries -in search of corporate social salvation.
From launching expeditions to cleaning up major sources of water, creating public conveniences and specialised medical facilities for tourists and innovative underground cellars for vegetables, public sector oil companies are spending part of their profit to help preserve the pristine Himalayas and improve people's lives.
And just as in mountaineering, there appears to be an unsaid competition among the biggies on getting higher. If refiner-marketer IndianOil is building public toilets in Leh and setting up a specialised medical facility atop Khardung La -at 5,359 metres the world's highest motorable pass, explorer ONGC intends to put a team of young executives atop Mt Everest and bring back garbage for proper disposal from various camps along the summit route.
The Everest expedition is ONGC's latest Himalayan venture with the Indian Mountaineering Foundation and puts `adventure' firmly in the CSR (corporate social responsibility) lexicon. Oil minister Dharmendra Pradhan is expected to flag off the 12-member expedition team this week.
The expedition will scale Everest from the Nepal side and bring back to the Base Camp garbage from camps along the summit route.From the Base Camp, the garbage will be flown to Kathmandu for proper disposal. In that sense, the expedition will take Modi's swachh message beyond the country's boundaries. Not to be left behind, Indian Oil has chosen the high latitude region of Ladakh, where it claims to operate the world's highest petrol pumps.According to Leh deputy commissioner Prasanna Ramaswamy G, the fully-equipped medical facility atop Khardung La -a popular haunt of tourists -will be a life saver in the coming season. Each year, several tourists succumb to illness induced by high altitude in the absence of oxygen supply or medical aid.
Underground storage for vegetables is a unique venture touching the lives of villagers. Vegetables become scarce, or beyond the reach of ordinary people, as these are flown in, in the harsh winters.The underground cellars prevent the temperature from dropping below a certain point, allowing villagers to preserve vegetables for consumption in the winter.
2014-17: ₹28,000 cr spent on CSR
India Inc spent ₹28k cr on CSR over 3 years, February 12, 2018: The Times of India
Companies have spent more than Rs 28,000 crore towards social welfare activities in nearly three years of corporate social responsibility (CSR) norms coming into force, latest official data showed.
The requirement for certain class of profitable entities to spend a certain amount on CSR works came into effect from April 1, 2014 as part of the new Companies Act.
An analysis of data compiled by the corporate affairs ministry showed that a total amount of Rs 28,112 crore has been spent on CSR activities by eligible companies during the period from April 1, 2014 to November 30, 2017. In the current fiscal till November 30, a total of Rs 4,719 crore was spent while the total money shelled out towards CSR works touched a high of Rs 13,828 crore in 2015-16.
