Analysis on CSR spending in education and healthcare by companies around Bangalore

Abstract

More and more corporate entities are looking for dedicated CSR organizations to carry out their CSR activities. This gave rise to plethora of foundations that could cater to local needs with a focus on needy. This would not be possible with a single donor as the task of identifying, implementing and overseeing is out of scope of business operations; needs extra funding just for execution and quality of work may deteriorate. According to UNICEF report, while 229 million students join in classes I to XII, 40-50% of them drop out at age of 15-18 years group. Programs of government, like Sarva Siksha Abhiyaan & Mid-day meal are tasked to fight these dropouts and improve this situation. Government spending on healthcare is 1.4% of GDP, which is lower compared to many other countries. It is evident that there is a lack of financial resources to develop medical infrastructure to cater the needs of growing population. India is the first country to legalize CSR spending in 2014, with the aim to address the gaps in resources through social spending. Education & health services are the prime focus are in investing in community development in India. The current project focuses on understanding statutory requirement, actual amount spent, projects undertaken and involvement of NGOs.