Now Reading: Karnataka targets Rs 9,700 crore CSR fund inflow by 2028-29
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Karnataka targets Rs 9,700 crore CSR fund inflow by 2028-29
Karnataka has set a target of attracting Rs 9,700 crore in corporate social responsibility (CSR) funds by 2028-29, up from Rs 3,395 crore in 2024-25. The state currently ranks third nationally, behind…
The Story in Brief
Karnataka has set a target of attracting Rs 9,700 crore in corporate social responsibility (CSR) funds by 2028-29, up from Rs 3,395 crore in 2024-25. The state currently ranks third nationally, behind Maharashtra and Gujarat, with 8-9% of India's CSR pool, according to Karnataka Digital Economy Mission (KDEM). Chief minister DK Shivakumar told a CSR conclave organised by GBITCIA that the current Rs 3,394 crore annual spend is too low and Rs 10,000 crore is needed. An IAS officer will be tasked with this push. KDEM CEO Sanjeev Kumar Gupta said Karnataka directs 49% of CSR funds to education, above the 46% national average. Bengaluru Urban and Rural consumes 65-70% of all CSR funds in the state.
The Indian Opinion
There is a familiar Karnataka-versus-Maharashtra-Gujarat rivalry being framed here, but the numbers tell a plainer story. Karnataka gets 8-9% of the national CSR pool, decent for a state that is not a manufacturing hub. The real test is not whether Bengaluru-centric spending spreads to other cities. Chief minister Shivakumar wants an IAS officer to look into the gap between the current Rs 3,394 crore and his Rs 10,000 crore annual target. That officer’s first question should be: how many of the 2,969 companies that already contribute will double their outlay in four years?
Source: timesofindia.indiatimes.com
This story was synthesised by AI from the source linked above.
