8% increase in corporate spending on CSR
Corporates have spent Rs.70.5 bn, an increase of 8% compared to the previous year on CSR (corporate social responsibility)initiatives. This puts the CSR spend at 98% of the prescribed spend – based on the Act, The S&P BSE 100 companies were required to spend Rs.72.0 bn on CSR, according to a recent report released by IiAS, a proxy advisory firm. The report says companies spent 1.9% of their three-year average profits, PSUs met the 2% target spend.
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