The Punjab government has stated that their CSR spending has risen to almost Rs 430 crore in the last three years.
According to official data, the landlocked border state got over Rs 341 crore in CSR funds over the previous two fiscal years, accounting for 54% of the total received over the last six years since the Union Government enacted CSR law in 2014.
While Punjab spent only Rs 202 crore on CSR in its first three fiscal years (2015-16 to 2017-18), it spent Rs 430 crore in the subsequent three fiscal years, a 213 percent increase.
Punjab got Rs 631 crore in corporate social responsibility funding, of which 26% went to education, 21% to healthcare, and 15% to environmental and sustainability issues.
Chief Secretary Vini Mahajan announced last week the publication of the Punjab CSR Report in collaboration with Sattva Consulting and the NASSCOM Foundation. She stated that Punjab-based businesses contributed 58% of the state’s total CSR funding.
The agricultural state has a composite SDG score of 68, which covers all critical development areas like health, education, employment, sanitation, and electricity, and is ranked 12th on the NITI Aayog’s SDG Index 2020-21.According to the research, the sectors that raised the most capital were oil, gas, coal, petroleum, telecommunications, and automobile. He said that CSR is critical to the state’s development.
The Punjab CSR Authority held a meeting of representatives from industry, foundations, and the social sector.
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Srijan, and Tech Mahindra Foundation were among the corporate sponsors.
A post-pandemic Punjab will benefit from the lessons learned in the battle against Covid. The panels deliberated on best practices and innovative approaches to education, skill development, and livelihoods.
Dr Goyal said that since the CSR mandate was put into law in 2014, corporates have donated Rs 92,605 crore to development initiatives throughout the country, assisting and promoting economic and social endeavors.
Dr Sandeep Goyal, CEO of the Punjab CSR Authority, shared important findings from the study, stating that the top-funding sectors were those involved in oil, gas, coal, petroleum, telecommunications, and automotive.
“Punjab is a frontrunner state in some SDGs, such as affordable and clean energy, with a score of 100,” she disclosed.
“Punjab is a border and an agrarian state. We don’t have big industries here. But the state is famous both for entrepreneurship and large-hearted philanthropy. The Punjab CSR Summit is our endeavour to focus the attention of large corporations on the opportunities available in the state and how the CSR Authority is fully geared to bring all stakeholders together and collaborate to devise meaningful and innovative strategies for the continued well-being of the people,” said Dr Goyal.
He said the CSR plays and will continue to play a pivotal role in the state’s development. “This summit and the discussions here will hopefully result in more corporates putting their weight behind key issues in Punjab and collaborating to move the needle towards more impact,” he added.