New Delhi, 22 February 2021: The state of Kerala has recorded a growth of 465% in its CSR funding over a period of 2014-19 when the national average growth in the CSR funding was merely 85%.
According to the Ministry of Corporate Affairs, CSR funding to Kerala increased from Rs 68 Cr in 2014-15 to Rs 386 Cr in the year 2018-19.
Kerala - CSR funding over 2018-19 Vs 2014-15
Corporate participation increases manifold
During the period of 2014-19, Kerala also witnessed a dramatic increase in the number of corporates participating in the CSR activities in the state.
As per the MCA officials, the number of corporates participating in the CSR activities in the state increased close to 8 times in 2018-19 as compared to the year 2014-15.
The state had only 128 companies participating in the CSR activities in 2014-15. This grew to 993 in the year 2018-19.
Ambani, Adani companies in lead role:
The CSR funding to the state of Kerala has also seen top Indian companies participating in various development sector projects in last few years. For example, Reliance Industries Limited (RIL) and Adani Ports and Special Economic Zone grabbed the top positions in the list of CSR spenders in the state.
Adani Ports and Special Economic Zone led the chart by spending Rs 27.5 Cr in the state followed by Reliance Industries Limited which spent more than Rs 26 Cr on various CSR activities.
CSR priority area gets an overhaul
The state also witnessed a major shift in the corporate choice towards the top priority areas for CSR fund allocation. For example, Education was the top sector which received around 25 % of the total CSR funding in the state in the year 2014-15. But the sector received only 15 % of the total CSR fund in the year 2018-19.
The lesser CSR focus in Education sector in Kerala appears rational given the fact that the state already has the highest percentage of literacy in the country.
Instead, Health Care sector in the state recorded 4-fold increase in CSR funding with the sector jumping from 3rd spot in 2014-15 to the top position in 2018-19.
