The Union Territory of Jammu and Kashmir has always been at the centre of conflict because of its proximity to the border. This has caused the state of development in the region to lag behind the rest of the country. After the Abrogation of Article 370, the Government of India has appealed to India Inc. to invest in the newly formed Union Territory and generate new business and employment opportunities. This has also led to an increase in CSR spending in the region.
The Jammu and Kashmir Reorganisation act 2019 was passed on 9th of August 2019 and the state was reorganised into two Union Territories namely Union Territory of Jammu and Kashmir and Union territory of Ladakh.
In FY 2023-24, the Union Territory of Jammu and Kashmir received Rs. 98.54 crore in CSR funds from 137 companies with the district of Jammu receiving the lion’s share of CSR funds (Rs 33.54 cr).
The top five spenders in the state include Jammu & Kashmir Bank Limited (Rs 18.77 cr), HDFC Bank Limited (Rs 17.56 cr), NHPC Limited (Rs 16.04 cr), National Stock Exchange of India Limited (Rs 6.78 cr) and Indian Oil Corporation Limited (Rs 3.72 cr).
The top three areas of focus for CSR initiatives in the UT include Education (Rs. 61.12 crore), Healthcare (Rs 24.78 crore) and Heritage Art & Culture (Rs. 5.22 crore).
Top Companies for CSR in Jammu and Kashmir
CSR of ONGC: Vocational Education and Drug Rehabilitation of youth
The activities of the project have facilitated in mainstreaming of local youth towards nation building. Students in the vocational training centre highlighted the boost in confidence, access to free learning, newfound independence, and the reputed faculty and placement organisations as the key positive aspects of their overall experience. The increased involvement of families and friends through outreach activities has also led to increase in trust and belief for this ONGC CSR project.
The drug de-addiction centre had a target to treat 1300 patients a year. Approximate 9,727 patients have been treated since 2014, the inception of the centre in Baramulla, Kashmir out of which a total of 3,878 patients have recovered.