Home SPORTS ‘Sports, Gender Equality & Animal Welfare Among The Losers In CSR Funds’

‘Sports, Gender Equality & Animal Welfare Among The Losers In CSR Funds’

88
0
SHARE
 

Corporate social responsibility (CSR) contribution to sports, environment, animal welfare, gender equality and slum area development dropped drastically in 2015-16. Clean Ganga Fund and PM National Relief Fund were also among others to receive less CSR funding.

While overall CSR expenditure rose by around 11% in 2015-16 as compared to 2014-15, many important areas received far less funds as compared to the previous year.

Minister of State for Corporate Affairs Arjun Ram Meghwal mentioned CSR expenditure details in a written reply to a question in Rajya Sabha.

Health, sanitation, education and skill training continued to be in the list of favourites for corporate firms in 2015-16 too. Figures showed that over 63% of the total CSR spending was contributed in these categories.

So far, education has always been the sector receiving maximum funds. But health and sanitation topped the list this year with Rs 3,117 crores leaving behind education and livelihood at Rs 3,073 crores. There was a visible growth seen in social development sectors like rural development and Swachh Bharat Kosh.

Heritage and culture also saw a decline in expenditure numbers. The figures fell down from Rs 157 crore in 2014-15 to merely Rs 90 crore in 2016-17.

CSR in India is governed by Section 135 of the Companies Act, 2013 that provides an institutional framework for the use of CSR funds by companies. CSR expenditure of companies is compiled as per the various activities listed in Schedule VII of the Act in accordance with development sectors.

Under the Act, companies need to spend at least two per cent of its average net profit for the preceding three financial years on socially responsible activities.

 

Development Sector Wise CSR Expenditure for FY 2014-15 And FY 2015-16

CSR Expenditure (In Crores)
Sectors 2014-15 2015-16
Health/ Eradicating Hunger/ Poverty and malnutrition/ Safe drinking water / Sanitation 2246 3117
Education/ Differently Abled/ Livelihood 2728 3073
Rural development 1017 1051
Environment/ Animal Welfare/ Conservation of resources 1213 923
Swachh Bharat Kosh 121 355
Any other Fund 36 262
Gender equality / Women empowerment / Old age homes / Reducing inequalities 326 213
Prime Minister’s National Relief Fund 192 136
Encouraging Sports 160 95
Heritage Art and Culture 157 90
Slum area development 123 9
Clean Ganga Fund 19 3
Other Sectors ( Technology Incubator and benefits to armed forces, admin overheads and others* ) 465 497
Total  Amount 8803 9822
Number of Companies for which data compiled 7334 5097
 * not specified

 

Thank you for reading the story until the very end. We appreciate the time you have given us. In addition, your thoughts and inputs will genuinely make a difference to us. Please do drop in a line and help us do better.

Regards,
The CSR Journal Team

LEAVE A COMMENT

Please enter your comment!
Please enter your name here

*