BusinessE-paperMarketStateTop Newsदेश

NorthEast got a 7.7 % of CSR

Companies spent less of their mandatory charitable spending in the North East than before.
The North East received a 7.7% share of corporate social responsibility funding in 2021-22 (FY22), an analysis of data compiled by primeinfobase.com reveals. This is the second lowest since CSR spending became mandatory in 2014-15 (FY15). At its peak in 2016-17, it was as high as 10.1 percent.

Companies are required to spend 2 percent of their profits on CSR projects. The analysis considered spending in Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim and Tripura.
Assam was the largest recipient of CSR funds. It was Rs 319 crore in FY22. Other states received an average of between Rs 100 and 130 million each.

This is a fraction of the amount received by the top five states.
Maharashtra, Tamil Nadu, Uttar Pradesh, Gujarat and Karnataka together got more than 35 percent of the total CSR spending of Rs 14,558 crore. These five states were the largest states by economic size before the pandemic (2018–2019) in terms of gross domestic product at current prices. This translates to a total of Rs 5,136.5 crore compared to Rs 1,125.8 crore in the North East. The amount doubled over time. It was just below Rs 2,500 crore for the top five states in FY15 and below Rs 650 crore for the Northeast. Both have increased in absolute terms, but the allocation share remains broadly similar.

Some of this skewed allocation is said to be related to the fact that most companies are located in multiple business centers in India. These include metros like Mumbai and Delhi. These states subsequently get a higher share of CSR spending.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
×