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BIG BRANDS GAVE THOUSANDS OF CRORES IN CSR. BUT TO WHOM?
INR 17,967 crore was officially spent by companies last year on CSR. And ye
- A 14-year-old girl in Bihar dropped out because no one taught her about periods.
- A village in Odisha still has no toilets after 10 years of CSR.
CSR - Corporate Social Responsibility is legally required in India. If a company earns over INR 5 crore profit, they must spend 2% on social causes. Noble, right? INR 17,967 crore was spent last year by 1,394 companies (vs INR 15,524 crore last year).
BUT
- Slum development down 72%
- Rural development down 59%
CSR in India: From Promise to Paralysis?
Over the last 18 months, I’ve tracked various estimates about how much money India’s social sector would receive once the CSR mandate kicked in.
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Initial projections were between INR 20,000 – INR 25,000 crore.
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Then they fell to INR 15,000 crore.
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The most recent reports suggest CSR inflows may dip below INR 5,000 crore.
That’s a staggering fall from what was once hailed as a game-changer for India’s development sector. And yet, if we consider just the top 100 listed companies, the potential CSR spend exceeds INR 6,000 crore (based on FY 2013-14). Add the private giants, MNCs with cost centres in India, IT firms, BPOs, and other eligible companies — surely, the original ₹20K–₹25K crore projection wasn't unreasonable. So, why are these funds not showing up where they matter most?
Let me call out the biggest spenders:
- HDFC Bank - INR 945 crore
- Reliance Industries Limited - INR 900 crore
- Tata Consultancy Services - INR 827 crore
- ONGC Foundation - INR 635 crore
- Tata Steel - INR 580 crore
- ICICI Bank - INR 519 crore
The significant rise in CSR spend reflects strong corporate earnings. Suggests that thresholds for applicability of CSR law should now be revised upwards, as the average 3-year net profit has more than doubled since 2014–15 (from INR 4.18 lakh crore to INR 9.62 lakh crore). This revision would ensure smaller companies are excluded, aligning with the original intent of the law.
Is this responsibility? Is this impact?
Because on the ground, nothing's changed. Leading Project Dignity, I've seen women in pain with no toilets, and girls skipping school because no one taught them what a period is. Project Dignity builds toilets, distributes menstrual kits, and trains women in villages to lead health and hygiene efforts. CSR Spend by NSE-Listed Companies Jumps 16% to INR 18,000 Crore in FY 2023–24
What happened to the big bucks of CSR spend? Have a look the report on CSR SPEND BY NSE-LISTED COMPANIES JUMPS 16 PER CENT TO ₹18,000 CRORE IN 2023-24
