CSR spend rose 9 pc to Rs 8,897 cr in FY17: Report
The Annual CSR Tracker compiled by CII revealed that the number of BSE-listed companies required to fulfil the mandate has also increased to 1,522 in FY17 from 1,270 in FY16 and 1,181 in FY15. Under the Companies Act, 2013, certain class of profitable entities are required to shell out at least 2 per cent of their three-year annual average net profit towards corporate social responsibility (CSR) activities
The survey suggests a substantial increase in CSR spends as against FY16 in the areas of environment and ecology (66 per cent), gender equality (115 per cent), national heritage (153 per cent) and sports development (192 per cent). Image source: Reuters