June 2023

Mohammad Anas Wahaj | 30 jun 2023

According to a study commissioned by The Times of India on CSR spends by NSE listed companies, CSR project spends in FY22 at Rs 14558 crore were marginally lower than Rs 14615 crore in the previous year. On the contrary, the number of companies that become part of CSR community increased to 1278 from 1251 in the previous year. As per 2021 amendment companies can defer CSR funds for a specific period. Companies have option to support multi-year projects and can transfer the unspent amount from an ongoing project to a separate bank account and can utilize it in the next three years. Pranav Haldia, MD of Prime Database says, 'Top areas continued to be healthcare and education, garnering nearly 60% of spends. Another area that gained prominence is the newly-introduced schedule of disaster management.' Shivananda Shetty, Head of ESG Advisory at KPMG, says, 'Companies are formulating multi-year projects of higher value, as the average per capita project expenditure is showing a positive trend. Read on...

The Times of India: CSR spends remain flat at Rs 14.6k crore in FY22: Study
Author: Rupali Mukherjee

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