BENGALURU: Indian IT firms are spending more on schooling as a part of their Corporate Social Responsibility (CSR), stated business apex body Nasscom Foundation on Wednesday.
"Education remains the focus area of IT firms' CSR activities, with 76 per cent of multi-national companies reporting highest spend on it, followed by 18 per cent on gender equality and 12 per cent on hunger and poverty in fiscal 2016-17," stated the Foundation at its CSR Leadership Conference right here.
According to a survey that the Foundation carried out with international CSR platform Goodera, 62 in line with cent of the Indian and multinational corporations have spent 100 in line with cent of their CSR funds on schooling and allied social actions within the closing fiscal.
"The industry has accepted the 2 per cent CSR rule with more IT firms declaring 100 per cent utilisation of their CSR budget," stated the survey document titled "Catalysing Change".
Smaller firms below Rs 100 crore turnover are also totally the usage of their CSR funds. While 58 in line with cent of large firms and 53 in line with cent of medium firms are spending 100 in line with cent of their CSR funds, 73 in line with cent of small firms spend 100 in line with cent of their CSR funds.
"Only 5 per cent of IT companies reported spend of less than 50 per cent of their CSR budget," stated the document.
"The IT industry has been at the forefront of social development initiatives and it is heartening to see the industry emerging as one of the most efficient and innovative adopters of corporate social responsibility."
The survey additionally published that 43 in line with cent of multinationals labored with central and state governments of their socio-economic projects in 2016-17.
"Technology continues to be a force multiplier in social impact, with more than half of the companies that spent 100 per cent of their CSR funds, claiming efficient use of technology to deliver CSR programmes aligned to the government agenda," stated Foundation Chief Executive Shrikant Sinha on the convention.
About 400 business leaders, NGO heads, officers, CSR concept leaders, civil society individuals and social innovators participated within the day-long convention.
"Education remains the focus area of IT firms' CSR activities, with 76 per cent of multi-national companies reporting highest spend on it, followed by 18 per cent on gender equality and 12 per cent on hunger and poverty in fiscal 2016-17," stated the Foundation at its CSR Leadership Conference right here.
According to a survey that the Foundation carried out with international CSR platform Goodera, 62 in line with cent of the Indian and multinational corporations have spent 100 in line with cent of their CSR funds on schooling and allied social actions within the closing fiscal.
"The industry has accepted the 2 per cent CSR rule with more IT firms declaring 100 per cent utilisation of their CSR budget," stated the survey document titled "Catalysing Change".
Smaller firms below Rs 100 crore turnover are also totally the usage of their CSR funds. While 58 in line with cent of large firms and 53 in line with cent of medium firms are spending 100 in line with cent of their CSR funds, 73 in line with cent of small firms spend 100 in line with cent of their CSR funds.
"Only 5 per cent of IT companies reported spend of less than 50 per cent of their CSR budget," stated the document.
"The IT industry has been at the forefront of social development initiatives and it is heartening to see the industry emerging as one of the most efficient and innovative adopters of corporate social responsibility."
The survey additionally published that 43 in line with cent of multinationals labored with central and state governments of their socio-economic projects in 2016-17.
"Technology continues to be a force multiplier in social impact, with more than half of the companies that spent 100 per cent of their CSR funds, claiming efficient use of technology to deliver CSR programmes aligned to the government agenda," stated Foundation Chief Executive Shrikant Sinha on the convention.
About 400 business leaders, NGO heads, officers, CSR concept leaders, civil society individuals and social innovators participated within the day-long convention.
Indian IT firms spend more on education as part of CSR: Nasscom
![Indian IT firms spend more on education as part of CSR: Nasscom]()
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December 01, 2017
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