India Inc's CSR spend up 28% in FY 2015-16

A gradual uptick in corporate earnings has led to a 28 per cent surge in corporate social responsibilities (CSR) spending by listed entities in 2015-16. 

According to data compiled by Prime Database,   these companies spent Rs 8, 345 crore in various CSR activities in 2015-16, against Rs 6, 526 crore in 2014-15. Education was most preferred area of spending, attracting Rs 2, 042 crore or nearly fourth of total spending, followed by spending on preventive health of Rs 1, 637 crore. Contribution to PM national relief fund also saw a five fold jump to Rs 869 crore.

Prime Database official stated that the increase in CSR spending was seen across sectors and type of companies. CSR spending by Public Sector Units (PSUs) saw a rise of 41 per cent. Total 47 PSUs spent Rs 2, 396 crore in 2015-16.

In absolute spending, Reliance Industries spent Rs 651.6 crore on CSR, highest by any corporate group, while Govt. owned NTPC and ONGC spent Rs 491.8 and Rs 409 crore respectively and were on second and third position.