Telangana Chief Minister A. Revanth Reddy announced plans for a special policy aimed at increasing Corporate Social Responsibility (CSR) funds and ensuring their effective utilization. To incentivize companies to contribute more CSR funds, the Chief Minister instructed officials to hold annual events honoring companies that have been generous in their contributions. These events will coincide with the State Formation Day celebrations. Additionally, a dedicated CSR cell will be set up at the state level to oversee ongoing CSR initiatives by corporate entities and to identify projects suitable for CSR funding from various government departments.
The Chief Minister also approved the establishment of a ‘Telangana CSR Portal’ during a review meeting. This portal will act as a crucial interface between the state government and corporate bodies, providing detailed information on projects available for CSR funding. Emphasizing the need for a more significant share of CSR funds for the state, Chief Minister Revanth Reddy expressed dissatisfaction with Telangana’s current three percent share of total CSR contributions nationwide. He directed state officials to take stringent measures to increase both the inflow and utilization of CSR funds within the state.
Officials were further tasked with ensuring that corporate entities in Telangana contribute more CSR funds and allocate them within the state. Chief Minister Revanth Reddy urged officials to study strategies implemented by other states to boost CSR funding mobilization. He highlighted the importance of formulating a new policy to attract corporate entities and increase Telangana’s share of CSR funds.
