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Social projects bypassed as firms spend CSR funds to curry favour with govt

A disaggregated look at the spending leads to the disturbing conclusion that CSR funds are becoming subject to political pressures

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Csr Spending  |  Companies Act

Pushpa Sundar | The Wire 

While the steady increase in companies’ corporate social responsibility (CSR) spends since 2014 under the Companies Act is to be welcomed, a disaggregated look at the spending leads to the disturbing conclusion that CSR funds are becoming subject to political pressures. In 2017-18, the mandatory CSR expenditure under Section 135 of the Companies Act was Rs 100 billion, according to the PRIME Database Group’s analysis of 1,627 NSE-listed companies.

This shows a growth of 11% per annum over the previous year. In line with previous years, and as was to be expected, the ...

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First Published: Sun, December 23 2018. 12:31 IST
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