Education Sector Received Maximum CSR Funds Between 2014-18

NEW DELHI || The education sector in India received the maximum CSR spent during financial year 2014-15 to 2017-18, minister of state for finance and corporate affairs Anurag Singh Thakur has informed the Rajya Sabha. This was said on the basis of filings made by the companies in the MCA 21 registry, the details of the CSR amount spent by various companies in Education Sector for the financial years 2014-15, 2015-16, 2016-17 and 2017-18.

The spend in 2014-15 was Rs 2589.42 crores, Rs 4057.45 crores in the next year, Rs 4500.82 crores in 2016-17, Rs 4594.64 in 2017-18, taking the CSR contributions made in the education sector to a total tally of Rs 15742.33 crores.

The Union Minister further stated that Corporate Social Responsibility (CSR) is a Board driven process and the Board of the company is empowered to decide the activities to be undertaken as per Schedule VII of the Companies Act, 2013 taking into consideration the recommendation of its CSR Committee. The entire CSR architecture is disclosure-based and CSR mandated companies are required to file details of CSR amount spent annually in MCA21 registry.

The details of the project undertaken by the Company is not maintained separately by the Ministry. State-wise data related to CSR amount spent and details of company-wise projects undertaken (including PSUs) for the financial years i.e. 2014-15, 2015-16, 2016-17 and 2017-18 are available at National CSR Data Portal of this Ministry (www.csr.gov.in) which displays disclosures made by companies at MCA 21 registry.

Related posts

Leave a Reply

*