CPSEs spent over Rs 4,100 cr on CSR activities in FY16

New Delhi:  ONGC has emerged as the largest spender on the Corporate Social Responsibility (CSR) activities as it emerged that the Central Public Sector Enterprises (CPSEs) spent over Rs 4,100 crore on such activities. The data brought out by the government pointed out that while the CPSEs spent Rs 2450.31 crore in 2014-15, this amount went up to Rs 4,100.93 crore in 2015-16. ONGC with a spend of Rs 421.01 crore led the way in 2015-16 followed by South Eastern Coalfields Ltd which spent Rs 270.85 crore. Indian Oil Corporation (IOC) was far behind with just about Rs 156.63 crore spent on undertaking CSR activities. After coming into force of provisions on CSR of the Companies Act, 2013, all companies, including CPSEs fulfilling threshold limits are required to spend at least 2% of their average net profit made during the three preceding years to undertake CSR activities/projects. tns