Are you looking forward to knowing India's current CSR scenario? Here are some key highlights from ICOR that might be of help

CSRBOX’s flagship research publication, ‘India CSR Outlook Report’ was unveiled on 15th November during Asia’s largest social impact forum – India CSR Summit 2022 – by Dr Bhagwat K. Karad Ji, Honourable State Minister of Finance, Government of India, in the presence of 2300+ delegates at New Delhi’s Pullman Hotel.

ICOR demonstrates through concrete evidence and data the CSR spent of 301 large companies in FY 2021-22 and visualizes a few crucial curves of the CSR landscape in India.

Speaking at the occasion, Dr Bhagwat Karad Ji said, “One of the many dreams of Mahatma Gandhi, the father of our nation, was to develop a trusteeship. It is necessary to work for the nation and with the combined efforts of all of us, working through CSR as a medium is a huge step forward.”

Of the 301 companies included in the study, 37.87% spent more than their prescribed CSR budget, 32.89% spent the same as the prescribed CSR amount, and 29.24% of companies spent less than the prescribed budget.

The study reveals that the large 301 companies actually spent INR 12,260 Cr. over the prescribed CSR budget of INR 12,119 Cr in FY 21-22. Out of 301 large companies, around 43.5% of the companies are headquartered in Maharashtra, followed by 9.97% in Karnataka and 9.3% in Delhi.

“We have been releasing this report since 2015 when the first CSR data was out by the ministry of corporate affairs. This is the 8th such publication in our annual report series. The intention behind focusing on these 301 public-listed companies is that they account for 48% of the entire CSR pie of India. These companies are setting some benchmarks and are taking the lead as to where to invest and working very closely with the govt. agencies to create a govt.-corporate-non-profit collaborative programs,” said Bhomik Shah, The founder and CEO of CSRBOX.

Reliance Industries Ltd., HDFC Bank, Tata Consultancy Services, ONGC and Tata Steel emerge as the top 5 spenders as per the actual CSR Spent reported in their annual reports. As per the report, these five companies account for more than 1/4th of total CSR spending.

The report also highlights that Poverty Alleviation, Healthcare, WASH, Education, Skills Development and Rural Development emerge as the priority thematic areas that jointly cover 70% of India’s total CSR fund.

The other significant highlights of the report are as follows:

• Public Sector Undertakings accounted for 26.23 % of total CSR spent for the FY 21-22
• Oil Drilling Lubricants & Petrochemicals, Banking & Finance and Computer Software & IT Sector companies jointly share more than 50% of India’s total CSR fund.

• Maharashtra, Odisha and Delhi received nearly 1/4th of India's total CSR fund.
• SDG 3 (Good Health and Well-being), SDG 4 (Quality Education), and SDG 1 (No Poverty) emerged as the focused SDGs that together received 65% of India’s total CSR fund.
• Nearly 47.3% of the CSR projects have been executed by Implementing Agencies.
• Only 5% of the Actual CSR Spent was allocated for Aspirational Districts.
• MOIL Limited has spent 388.76% of the prescribed amount, followed by Vedanta Limited and Kudremukh Iron Ore Company Limited with 368.32% and 305.68% respectively.
• Only 2.4% of the Actual CSR Spent was allocated for North-Eastern States

Download the full version of the report here https://csrbox.org/India_CSR_report_2022-India-CSR-Outlook-Report---CSR-Analysis-of-Large-301-Listed-Companies-(FY-2021-22)---Full-Version-_113