Making CSR count

As spending rises, focus must shift to gauging its impact on the ground

With great power comes great responsibility”: That immortal line from the Spider-Man franchise seems to resonate well with companies in India. In just four years since spending on corporate social responsibility (CSR) was made mandatory, cumulative spending on this head has shot past the Rs 50,000 crore mark, proving itself an able ally in the government’s welfare push.

A CRISIL study shows spending by listed companies rose 12 per cent on-year in fiscal 2018 to Rs 10,000 crore — the first time it has reached this mark in any year. Assuming the same rate of growth, spending by unlisted companies is