Page 50 - Banking Finance December 2021

ARTICLE

Development Sectors Amount Spent over a period of time Cumulative Amount
FY-14-15 FY-15-16 FY-16-17 FY-17-18 FY-18-19 Amount Spent
(INR Cr.) (INR Cr.) (INR Cr.) (INR Cr.) (INR Cr.) (INR Cr.) (in %)

Rural Development 1059.34 1376.16 1554.77 1479.80 2308.83 7778.90 10.91%
Environment, Animal 853.99 971.06 1317.70 1362.83 1516.63 6022.21 8.45%
Welfare, Conservation
Of Resources
NEC/ Not Mentioned 1338.39 1051.15 388.95 1.04 87.54 2867.07 4.02%
Gender Equality, 189.92 342.67 468.74 499.65 517.88 2018.86 2.83%
Women Empowerment,
Old Age Homes,
Reducing Inequalities
Any Other Fund 277.09 334.34 419.98 255.62 710.59 1997.62 2.80%
Prime Minister's 228.18 218.04 158.80 161.84 300.07 1066.93 1.50%
National Relief Fund
Heritage Art And 117.37 119.16 305.57 284.05 189.89 1016.04 1.43%
Culture
Swachh Bharat Kosh 113.86 325.52 184.06 213.67 93.80 930.91 1.31%
Encouraging Sports 57.61 140.11 180.32 227.75 295.10 900.89 1.26%
Other Sectors 9.50 37.48 60.95 43.33 119.71 270.97 0.38%
(Technology Incubator
And Benefits To Armed
Forces And Admin
Overheads)
Slum Area Development 101.14 14.09 51.49 35.10 50.23 252.05 0.35%
Clean Ganga Fund 5.47 32.82 24.37 4.54 5.41 72.61 0.10%
Total 10065.87 14517.12 14332.97 13707.94 18653.42 71277.32 100%

Source:-National CSR Data Portal (www.csr.gov.in)

The table depicts that most of the companies have society for holistic development is also the responsibility of
cumulatively spent around 38%, 27% & 11% in development a business enterprise. Off late, Indian government has
sectors belonging to education, health & rural development recognized the need of CSR and thus It has made it
respectively. Almost 75% of the total cumulative amount mandatory for the eligible companies to spend a certain sum
spent belongs to these three development sectors. of money towards upliftment of society.

Conclusion: The overwhelming response by the eligible companies can

The concept of corporate social responsibilities defines that be seen in the huge number of amount spent by companies
responsibility of corporate is not only to take business over a period of time. Slowly but surely, the concept has
decisions, maximize profits or shareholders' value but also gained momentum. It will help to transform human assets
to serve and protect the interests of other members of a of far flung areas of our nation by bringing visible changes
society such as workers, consumers and the community as in their life which will surely serve the dream of shaping a
a whole. In other words, protecting the interests of the new India. T

50 | 2021 | DECEMBER | BANKING FINANCE