India leads in CSR spending growth


The reporting of corporate social responsibility (CSR) spending is growing faster in India than anywhere else in the world.

After the new Companies Act made it mandatory for companies with a net worth of Rs 500 crore or with annual turnover of Rs 1,000 crore to spend under CSR, India's total CSR reporting increased by 27% in 2015, the maximum among 45 countries surveyed by international audit firm KPMG.

Out of the total outlay of Rs 6,490 crore towards CSR in India for 2015, companies have spent Rs 5,115 crore. The health sector accounts for 20% of the spending followed by education with 19%. Maharashtra has 205 projects under CSR, the maximum among Indian states, followed by Karnataka (152), West Bengal (123) and Tamil Nadu (122). The laggards in spending under CSR are some public sector undertakings, says the survey. Union finance minister Arun Jaitley had mentioned the results of the survey in the Lok Sabha on Friday.....................Read more

 

Source: The Times of India


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