The Finance Minister Arun Jaitley on Tuesday expressed confidence that increased Corporate CSR spend will have beneficial impact on the social sector in India.
"In the first year, Corporates are going to spend Rs 14,000 crore towards CSR. This is only going to increase year-after-year as profits of corporate sector rises", Jaitley said after giving away social entrepreneur of the year award in the capital.
The spread of the CSR spend is only going to expand in the coming years, he said. Sudharshan from Karuna Trust bagged the Social Entrepreneur of the Year-India 2014 award.
The Schwab Foundation for Social Entrepreneurship and the Jubilant Bhartia Foundation are promoting social innovation in India through the annual Social Entrepreneur of the Year India awards.