New Delhi, 2 March 2021: The southern state of Karnataka has witnessed an impressive growth in the CSR funding to the state with the total CSR spent in the state growing by more than 200% in 2018-19 as compared to the financial year 2014-15.
According to the ministry of corporate affairs the total CSR funding in the state in the year 2018-19 was to the tune of Rs 1,222 Cr. The state had received only Rs 403 Cr in the year 2014-15.
The growth of 200 % in the CSR funding to the state assumes significance as the national average growth in CSR funding was merely 85%.
More companies join CSR landscape
During the period, the state also witnessed more companies joining CSR activities in the state.
As per the government data, the Karnataka witnessed a total of 1,411 companies doing CSR activities in the state, more than two-and-a-half times the number of companies funding state-specific CSR projects in 2014-15. The number of companies in 2014-15 was only 545.
Infosys, Wipro take CSR lead
The state got the CSR funding boost with IT giants Infosys increasing its CSR funding to the state almost four times. The company which spent close to Rs 67 Cr in the year 2014-15 in the state increased its CSR spent to Rs 232 Cr in 2018-19.
Also, another IT major Wipro remained consistent with its CSR activities in the state with the CSR spent in the range of Rs 100-160 Cr over the given period.
Education gets major boost
The CSR boost in the state also led the Education sector getting a four-fold increase in the funding.
According to the MCA data, the funding to education sector increased from Rs 125 Cr in the year 2014-15 to Rs 507 Cr in 2018-19. The health sector and environment sustainability also stood among the top gainers with 3-fold increase in CSR funding.
Further, the CSR coverage in the state also increased during this period. For example, in 2014-15, only 21 out of the total 30 districts benefitted from CSR projects. However, the districts covered under CSR projects increased to 27 in 2018-19.
