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Education, now a preferred choice for maximum CSR spend

A substantial number of companies have spent more than 60-70% of their CSR budget on education initiatives, says a yet-to-be-released report by Nasscom Foundation.

“Education forms the major chunk of CSR spend: A substantial number of companies interviewed have spent more than 60-70% of their CSR spend on education initiatives and the remaining half spend between 30-40% of their budget in the sector,” says the report.

  • The Foundation CEO Shrikant Sinha said India Inc in its third year of the CSR mandate has started to show signs of maturity towards its CSR expenditure and a larger number of companies are willing to work towards sustainable goals and create a more developed society around them.
  • MeitY Additional Secretary Ajay Kumar said benefits from Government are no longer received from local Government office but through DBT. “About 325 million people have been benefited so far,” he added.
  • Also government services have grown nearly 100 per cent and farmers have opportunity to sell their produce directly in a National market through eNAM (National Agricultural Market) portal, Kumar added.
  • The report also said companies are now also going to non-headquarter locations for CSR, indicating growing equity in the distribution of projects between urban and rural areas.
  • It also said companies have become increasingly aware of outcome assessment and close monitoring implementing agencies, as evidenced by the growing frequency of report submissions from partner organisations, and greater on-ground frequency of CSR team.

Source: The Indian Express

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