-Funds spent on education, water, environment, malnutrition and po
Chhatrapati Sambhajinagar: The companies in the past three years have spent Rs 157.73 crore under the Corporate Social Responsibility (CSR) to tackle issues like education, water, environment, food, poverty, malnutrition and shelter in Chhatrapati Sambhajinagar district. However, a recent report has shown that the CSR funds have been concentrated in select districts of the State, neglecting others.
Pune, Mumbai, and Thane receive maximum CSR funds
Pune, Mumbai, and Thane have received the highest amount of CSR funds during the period from 2018-19 to 2020-21. Pune district alone received Rs 308.08 crore in 2018-19, Rs 324.44 crore in 2019-20, and Rs 383.73 crore in 2020-21. Mumbai city received Rs 70.27 crores in 2018-19, Rs 276.64 crores in 2019-20, and Rs 392.65 crores in 2020-21. Hingoli ranks the lowest in the State with CSR expenditure of Rs 0.45 crore followed by Washim with Rs 0.58 crore.
Districts with high industrial development
The total CSR funds spent in the State amounted to Rs 3,348.82 crore in 2019-20 and Rs 3,426.31 crore in 2020-21. However, some districts with high industrial development and private companies have been neglected in the distribution of CSR funds. Very little funds have been spent in underdeveloped districts with lesser industrial development including Washim, Sindhudurg, Parbhani, Dharashiv, Nanded, Nandurbar, Latur, Jalgaon, Hingoli, Gadchiroli, Buldana, Beed, and Akola.
Mandatory CSR collection
As per Section 135 of the Companies Act 2013, companies whose profit is more than Rs 5 crores, whose credit is more than Rs 500 crores, and whose annual turnover is more than Rs 1000 crores are obliged to deposit CSR funds. The amount transferred to the CSR fund is two percent of the average profit made in the last three years.
Urgent need to address CSR fund disparity
The disparity in the distribution of CSR funds is a matter of concern and needs urgent attention. The neglected districts require significant investment to address the various issues plaguing them. The government and private companies need to work together to ensure that CSR funds are distributed equitably across all districts in Maharashtra, said Massia president Kiran Jagtap.
Funds spent in Marathwada (In crore)
District 2018-19 2019-20 2020-21
Chhatrapati Sambhajinagar: 18.68 66.69 72.36
Beed : 1.7 3.13 2.70
Hingoli : 0.09 0.13 0.23
Jalna : 7.38 6.19 5.35
Latur: 1.47 2.56 4.04
Nanded: 0.35 0.24 1.80
Dharashiv : 3.75 2.66 4.96
Parbhani : 0.01 0.15 0.39
CSR funds spent in the State: (In crore):
Year Funds
2018-19 Rs 3147.66
2019-20 Rs 3348.82
2020-21 Rs 3426.31