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June 2019
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Bhuvneshwar ruled out of next 2-3 games due to hamstring niggle: Kohli        Shakib 124, Liton 94 guide Bangladesh to 7 wicket victory over WI        Facebook to unveil new cryptocurrency        Sensex drops over 150 pts; Nifty below 11,800        Hong Kong police clear streets as protesters move to park        Argentina, Uruguay restore power after massive blackout        Hong Kong activist Joshua Wong walks free, calls on leader to resign        Don't bother about numbers, your every word is valuable: PM to Oppn        Kejriwal seeks action against cops for thrashing driver        Amarinder seeks Shah's intervention in streetfight between cops and driver in Delhi        WB doctors agree to call off strike during meeting with Mamata        Kerala Congress (M): Jose K Mani elected as Chairman        Cyclone Vayu to recurve towards Gujarat and weaken gradually        Joseph terms Jose K Mani''s election unconstitutional, says ''crowd'' can''t elect chairman        Heatwave claims 61 lives in Bihar        With eyes on 2022, Priyanka to step up UP tours, meet Cong workers twice a week        Hong Kong leader apologises as massive rally chokes city        Gunmen on motorcycles kill 34 villagers in Nigeria: Police        Trump to raise Hong Kong protests with Xi at G20: Pompeo        Protesting doctors turn down Mamata''s invite for talks, say CM has to apologise first        
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Business News
Companies CSR expenditure rises 47pc in 4 years to FY18: Survey
 
New Delhi, Dec 26 (PTI) Companies in India spent Rs 7,536.3 crore on corporate social responsibility (CSR) activities in 2017-18, a 47 per cent rise compared to 2014 15, says a survey.

"This is a significant rise, clearly demonstrating higher expenditure towards CSR activities from the mandated year, 2014," said the KPMG India CSR Reporting Survey 2018.

The cumulative expenditure by top 100 companies from 2014 15 to 2017 18 is about Rs 26,385 crore, the survey said.

The average amount spent per company has gone up to Rs 76.1 crore as compared to Rs 58.8 crore during 2014 15, up 29 per cent, it said.

The survey further said 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.

"This is the fourth year into the report and also government regulation to spend 2 per cent on CSR. This year, the two outcomes which are showing progress due to the regulation are - governance around CSR and contribution of private sector in the development," said Santhosh Jayaram, Partner and Head, Sustainability and CSR Advisory, KPMG in India.

"The governance around CSR has improved to a great extent. The functioning of the CSR committee has shown significant development as increasing number of top executives are involved and CSR is also a board room discussion. The CSR spend is increasing over years and more private companies are crossing the 2 per cent threshold," he added.

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, 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.

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.

State-wise, Maharashtra, Gujarat, Rajasthan, Uttar Pradesh and Karnataka are the top five states from an expenditure perspective, the survey added.


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