Kolkata: Equitable distribution of CSR Fund is one of the key components of CSR strategies of Corporate India, said Former Director General & CEO of Indian Institute of Corporate Affairs Bhaskar Chatterjee said.
Otherwise the purpose of the Act would be lost in the process,
Chatterjee said. Chatterjee is known as the father of India’s Corporate Social Responsibility (CSR) Act.
Chatterjee said after a decade of implementation of CSR Act, the CSR strategists now should put their focus on three major areas which are Innovation, Impact Assessment and Equitable Distribution.
Citing statistics, Chatterjee said that the irony is 30% of the CSR fund is spent in developed Indian states like Maharashtra, Gujarat, Karnataka while only 0.9% is spent in North-Eastern states. “The corporates wish to spent their CSR Fund in the areas where they operate. Thus, more developed states with more industries get more funds.”
He suggested that this should be addressed at the Corporate Boardrooms where strategies are decided.
