Telangana's CSR Push: Urging Local Investment for Global Impact
Telangana CM Revanth Reddy urges local firms to allocate at least 50% of CSR funds within the state. To encourage this, a new policy and CSR portal have been proposed. Companies contributing significantly to the state's CSR fund will be recognized during annual events to boost participation.
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Telangana Chief Minister A Revanth Reddy has expressed his dissatisfaction with the insufficient allocation of Corporate Social Responsibility (CSR) funds by state-based companies. During a CSR review meeting, Reddy highlighted that only 3% of the national CSR funds are currently flowing into the state and insisted on a greater share.
He urged firms to allocate at least 50% of their CSR budgets to projects within Telangana. To achieve this, he directed officials to draft a new policy that incentivizes higher local spending and facilitates corporate contributions through a dedicated portal.
The state will also host annual recognition events for firms with significant CSR contributions, enhancing community development and state welfare. The establishment of a state-specific CSR portal has been approved to streamline communication and project information.
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