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Would you believe Reliance tops corporate social spending this year!

BI India BureauFeb 26, 2016, 16:28 IST

Reliance Industries pipped state owned ONGC and Infosys to emerge as the top company to spend on corporate social responsibility (CSR).

Reliance Industries spent over Rs 760 crore. State-wise, Maharashtra has topped the chart in terms of CSR spending. The state has 202 projects.

Reliance Industries shelled out Rs 760.58 crore on CSR followed by ONGC (Rs 495.23 crore), Infosys (Rs 239.54 crore), TCS (Rs 219 crore) and ITC (Rs 214.06 crore).

Corporate Affairs Minister Arun Jaitley said a total of 460 listed firms have so far disclosed spending Rs 6,337.36 crore in 2014-15. This included 51 PSUs that spent Rs 2,386.60 crore.

The new Companies Act mandates every company with a net worth of Rs 100 crore to set aside minimum 2 per cent of their three-year average annual net profit for CSR activities.

Companies also allocated funds towards clean Ganga Fund, Swachh Bharat Kosh, promotion of sports, art and culture.

(Image: Thinkstock)