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CSR spend tops Rs 50K-CR during FY 15-18

  • Posted byBSE Sammaan
  • AtFeb 28, 2019
  • LocationMumbai, Maharashtra, India

Corporate social responsibility (CSR) spends by companies have touched Rs 50,000 crore in the four financial fiscals to 2018, but but there is a need to improve the framework a report said Thursday.

MUMBAI: Corporate social responsibility (CSR) spends by companies have touched Rs 50,000 crore in the four financial fiscals to 2018, but but there is a need to improve the framework, a report said Thursday. 

The Companies Act, 2013 makes it mandatory for businesses with Rs 500 crore in annual revenues to set aside 2 percent of their profit for social good or affirmative action. 

The cumulative spending from FY15-FY18 has topped Rs 53,000 crore, and includes Rs 34,000 crorer.