Representative image indicating rise in spending
Credit: iStock Photo
Mumbai: India's Corporate Social Responsibility (CSR) spending soared to Rs 34,909 crore, according to Fulcrum, a leading consulting, advisory, and research firm in the social and CSR sectors.
The report reveals a significant increase in CSR spending by Indian corporates, reaching an impressive ₹34,909 crore in FY 2023–24 — a 13% rise from last year. This marks a decade of sustained growth and commitment towards social and environmental development across India.
The Bharat CSR Performance Report FY 2023–24 provides an in-depth analysis of CSR expenditures, emerging trends, and the geographical distribution of funds, offering invaluable insights for stakeholders across the CSR and social ecosystem. CSR disclosures are typically made with a lag of one financial year due to statutory timelines for reporting and verification. These figures are meticulously compiled from the most recent CSR submissions made by corporates.
Parthesh Vyas, Co-CEO of Fulcrum, said:
“There has been a significant shift in how companies view CSR. It is no longer seen as a mere compliance requirement but as a strategic and integral part of business. Corporates are increasingly investing in long-term, impact-driven projects that bring tangible improvements to people's lives, rather than opting for one-time initiatives. The 38% rise in livelihood-focused projects clearly reflects their growing commitment to empowering communities through sustainable livelihood opportunities.”
A total of 59,634 CSR projects were implemented nationwide — a 9% increase from last year — with an average cost of ₹58.5 lakh per project.
Excluding the top 10 companies, the average CSR spend by the remaining corporates is ₹1.07 crore per company.
Arun Mathai Marette, Co-CEO of Fulcrum, added:
“This year’s CSR data reaffirms that Indian businesses are not just fulfilling statutory obligations — they are actively shaping the country’s development journey. The surge in projects related to education, environmental, and livelihood investments shows how CSR is becoming a key driver of Viksit Bharat.”