CHENNAI: Corporate India spent has spent over Rs 4,000 crore on development in Tamil Nadu between 2014 and 2020, shows report published by Sattva Consulting firm.
Tamil Nadu minister for finance & human resources management Dr Palanivel Thiaga Rajan said need for transparent data would aid effective utilization of CSR funds allocated by corporations in the state.
TN saw the fourth highest CSR spender in India. The CSR mandate was made into law in 2014, and since then Rs 92,605 crore of funding has been channelled by corporates towards development causes in the country. This was the collection at both district level and sector wise.
Rajan said the primary concern on CSR, though the guideline is provided by the government, it requires thinking with consciousness. In TN, many water conservation efforts were done by NGOs supported by CSR donations and have set benchmarks. Support through these CSR activities, where corporations can add value to the nature of our democracy is the need of the hour.
The report was released on the sidelines of the first Tamil Nadu CSR Summit 2021 organised by Sattva Consulting in partnership with Madras Management Association and Dhwani Foundation. Among the key insights from the report, the top three funding industries are BFSI, manufacturing and energy. The states’ capital Chennai has received the bulk of CSR outlays at close to 25%, with Vellore and Coimbatore at over 6% and 5% respectively.
NITI Aayog recognised aspirational districts – Ramanathapuram and Virudhanagar – which are yet to meet many of the markers as per the SDGs received less than 1% outlay across the last six years. However, the three districts of Ariyalur, Tenkasi and Tirupattur received none at all. Donations towards the education sector stands the most preferred segment which the organisations supported, with healthcare and rural development coming in second and third place.