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The corporate sector has spent over ₹4,000 crore in Corporate Social Responsibility cumulatively in Tamil Nadu in the last six years (FY15 to FY21). Of this, 39 per cent of the funds have been spent towards education, 20 per cent towards healthcare and 8 per cent towards rural development, said a report on CSR in Tamil Nadu: Development Landscape - Indicators and Insights by Sattva Consulting.
Tamil Nadu has received over ₹800 crore of CSR funding in each of the last two financial years, accounting for 42 per cent of the total CSR funds received over the six years.
The top four spending companies - Neyvelli Lignite Corporation, BHEL, MRF and Sun TV Network - have contributed 16 per cent of the total CSR spend. BFSI and manufacturing are the highest contributing sectors, providing 16 per cent and 12 per cent funds, respectively. Also, 72 per cent of the CSR funds for Tamil Nadu are from companies which are also headquartered in the State, said the report launched by Tamil Nadu’s Finance Minister Palanivel Thiaga Rajan in a summit on Monday. It was hosted by Sattva in partnership with Dhwani Foundation and Madras Management Association.
‘Benchmark for govt’
Speaking at the summit, Rajan said that corporates can set a good example for the government in taking up some of the grass root and granular works like water conservation, redevelopment of ponds or lakes using CSR funds where the State could not do. This also sets a benchmark on how the government can live up to the standard,
Rajan said that in the recent Budget debate in the Assembly, many of the MLAs wanted unlimited flexibility on using the Constituency Development Funds - somewhat parallel to CSR Funds given to focus on grass root and granular problems that policy makers cannot. “I took it up with the Chief Minister and said it was not a bad idea. However, there were a lot of counter examples from the officials on how these funds can be mismanaged or misused. There was not much support to relax the guidelines and let it go free,” he said.
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