NEW DELHI: Corporate Social Responsibility (CSR) has emerged as a crucial funding source for various development initiatives across India, with companies required to allocate a portion of their profits to social causes. However, Jammu and Kashmir has received a relatively small share of these funds, as per data provided by the Ministry of Corporate Affairs.
According to the figures submitted in the Rajya Sabha, CSR expenditure in Jammu and Kashmir has fluctuated over the last five financial years. In 2018-19, companies spent Rs 36.44 crore in the region, which declined to Rs 25.27 crore in 2019-20. The amount increased in subsequent years, reaching Rs 50.68 crore in 2021-22 and Rs 71.22 crore in 2022-23. Despite this rise, the CSR contributions to Jammu and Kashmir remain significantly lower than those received by many other states.
Leh and Ladakh, which became a separate Union Territory in 2019, have also seen modest CSR allocations. The available data indicates that CSR spending in Leh and Ladakh was Rs 14.84 crore in 2021-22 and Rs 11.72 crore in 2022-23.
Nationally, CSR contributions have seen a steady increase, with companies spending Rs 29,987.92 crore in 2022-23 compared to Rs 20,217.65 crore in 2018-19. Maharashtra has consistently received the highest CSR funding, with Rs 5,494.77 crore allocated in 2022-23. Other states receiving significant CSR funding include Gujarat (Rs 1,982.26 crore), Karnataka (Rs 1,985.23 crore), and Tamil Nadu (Rs 1,558.66 crore).
The sectoral distribution of CSR funds highlights education as the largest beneficiary, with Rs 10,085.78 crore allocated in 2022-23. Healthcare follows closely with Rs 6,830.60 crore, while rural development projects received Rs 2,005.37 crore. Environmental sustainability and livelihood enhancement projects also accounted for substantial spending.
To ensure transparency and accountability in CSR spending, the Companies Act, 2013 mandates that eligible companies form CSR committees and disclose their initiatives in annual reports. Companies must verify that CSR funds are used as intended, with statutory audits reinforcing compliance. Over the last five years, 100 companies have faced penalties or notices for failing to meet CSR obligations.
