Nagaland and Mizoram Least Favoured States for CSR Projects

Almost all the North East states and particularly Mizoram and Nagaland are least favoured destinations for corporate philanthropic activities in India in the form of their Corporate Social Responsibility (CSR).

According to data by provided by the Minister of Finance and Corporate Affairs, Nirmala Sitharaman on November 18 in reply to a Starred Question in the Lok Sabha, in last three financial years, CSR‘s expenditure in Nagaland was mere Rs 2.24 crore. It was even lesser in Mizoram at Rs 1.38 crore.

The state receiving the highest corporate largesse in the NE was Assam at Rs 164.60 cr, Rs. 269.92 and Rs 86.23 respectively in the last three financial years – 2015-16, 2016-17, 2017-18. Arunachal Pradesh received the second highest at Rs 1.48 cr, Rs  24.05 cr and Rs. 11.94 cr  respectively during the same period.

However, in almost all the states, the CSR spending showed decreasing trends. For instance, CSR’s expenditure in Nagaland decreased from Rs. 0.96 cr in 2015-16 to Rs 0.92 in 2016-17, which further declined by over 50% to Rs 0.36 cr in 2017-18.  In Assam, from Rs 269.92 cr in 2016-17, it decreased drastically to Rs 86.23 in 2017-18.

Overall sentiment

In what could be reflective of the general business sentiment and economic slowdown in the recent past, the overall CSR’s expenditure showed declining trends in the last three years from Rs 14,517.19 cr in 2015-16 to Rs 14,329.53 in 2016-17, and further falling to Rs 13,620.51 in the last fiscal.

Maharashtra garnered the lion’s share of CSR’s expenditure garnering a total of Rs 2,527.04 cr in the last financial year and reflected an increasing trend. Karnataka at Rs 950.92 cr last fiscal was in the distant second, though it also showed an increasing trend.  Gujarat followed closely in third receiving Rs 768.96 cr CSR’s expenditure in 2017-18.

Source: Morung Express News