New Policy Soon for CSR Funds, Says Revanth
Telangana to set up CSR cell, portal to improve fund mobilisation, utilisation
Hyderabad: Chief Minister A. Revanth Reddy has announced that the state government will introduce a special policy to ensure effective utilisation and increased mobilisation of Corporate Social Responsibility (CSR) funds from companies and industries operating in Telangana.
At a review meeting held on CSR initiatives on Thursday, the Chief Minister directed officials to take proactive steps to encourage corporates to contribute more funds, including organising annual felicitation events to honour companies and representatives that make significant CSR contributions. He instructed that these awards be presented as part of the State Formation Day celebrations.
As part of strengthening institutional mechanisms, Revanth Reddy approved the establishment of a dedicated CSR cell at the state level with a separate office. The cell will coordinate CSR activities undertaken by corporate entities across the state and compile a repository of projects from various government departments that are suitable for execution through CSR funding.
The Chief Minister also cleared the creation of a ‘Telangana CSR Portal’ to serve as a bridge between the government and corporate organisations. The portal will host detailed information on projects across departments that are open for CSR funding, enabling companies to identify and support initiatives aligned with their priorities. He said that the portal should be designed in a user-friendly and engaging manner to facilitate seamless interaction and participation by corporates.
During the meeting, officials informed the Chief Minister that Telangana currently accounts for only about three per cent of the total CSR contributions in the country. Expressing dissatisfaction over the low share, Revanth Reddy stressed the need to significantly enhance both the inflow and utilisation of CSR funds in the state. He directed officials to take concrete steps to ensure that companies operating in Telangana contribute more CSR funds and utilise them within the state.
The Chief Minister also instructed officials to study best practices adopted by other states in mobilising CSR funds and incorporate effective strategies into the proposed policy framework to attract higher corporate participation. Chief Secretary K. Ramakrishna Rao and senior officials were present in the meeting.
