60% of CSR spend on education, healthcare and rural development in last seven years: Govt

rawan239

2 years ago

60 per cent of the totalCSRfunds spent by companies in the last seven financial years were in the areas of Education,healthcareand rural development-related activities. In a written reply to the Lok Sabha, the corporate affairs ministry said that during the period, around 33 per cent of the total CSR amount spent by companies were inMaharashtra,Karnataka,Gujarat,Andhra Pradeshand Nadu.

Under the Companies

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Act, 2013, a certain class of profitable companies have to earmark at least two per cent of their three-year annual Average net profit towards CSR (Corporate Social Responsibility) activities in a particular fiscal year.