NSE-Listed Companies' CSR Spend Swells 28 Pct To Rs.8,345 Crore In 2015-16

NEW DELHI: As many as 920 companies listed on NSE together shelled out Rs.8,345 crore towards corporate social responsibility (CSR) activity in 2015-16, a surge of 28 pct from the preceding fiscal, with maximum funds going into education and health, says a report. 

Besides, contribution towards the Prime Minister's relief fund saw the maximum increase (418 pct) to Rs.701 crore in the last financial year to Rs.168 crore in 2014-15, according to a report by Prime Database. 

CSR law, which came into force in April 2014, mandates companies to invest two pct of their net profit in CSR projects. 

According to the Companies Act, firms with net worth of Rs.500 crore and above or revenue of Rs.1,000 crore and above or a net profit of Rs.5 crore and above have to spend two pct of average net profit of the last three years. 

The report said a total of 920 companies listed on NSE spent a total of Rs.8,345 crore towards CSR activities in 2015-16, higher than 895 companies that collectively spent Rs.6,526 crore in the preceding fiscal. 

Education received the maximum amount (Rs.2,042 crore) followed by healthcare (Rs.1,638 crore), and a huge Rs.1,782 crore was made under 'other matters'. 

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