Bihar Received ₹260.53 Cr in CSR from Over 325 Companies in FY24
Corporate Social Responsibility (CSR) has become an integral part of the corporate landscape in India, with companies dedicating a significant portion of their profits towards social welfare initiatives. While many states in the country have made substantial progress in terms of CSR, Bihar has historically lagged behind. However, recent data suggests that the state has made a significant stride towards embracing CSR. In the fiscal year 2023-24, Bihar received a whopping ₹260.53 crore in CSR support from over 325 companies, a significant increase from previous years.
The data was released by the Ministry of Corporate Affairs, and it highlights the growing importance of CSR in the state. Bihar’s CSR journey has been marked by a focus on specific areas, with health, education, and rural development emerging as the top three areas of focus. These sectors received CSR funds worth ₹110 crore, ₹83.97 crore, and ₹38.08 crore respectively.
The significance of CSR in Bihar cannot be overstated. The state has been grappling with significant developmental challenges, including poverty, education, and healthcare. The influx of CSR funds has provided a much-needed boost to the state’s efforts to address these issues. Moreover, the fact that over 325 companies have committed to CSR initiatives in the state is a testament to the growing awareness and commitment towards social responsibility among corporate entities.
Healthcare, one of the top areas of focus for CSR initiatives in Bihar, has received significant attention. The state has been plagued by poor healthcare infrastructure and a shortage of medical professionals. The CSR funds allocated to healthcare initiatives have enabled companies to support hospitals, healthcare centers, and medical research institutions. This has improved access to healthcare services for the marginalized and underprivileged sections of society.
Education is another area that has received significant attention from CSR initiatives in Bihar. The state has been struggling to improve its education infrastructure, with many schools lacking basic facilities. CSR funds have enabled companies to support education-related initiatives, including building schools, providing educational materials, and supporting teacher training programs. This has helped to improve the quality of education in the state and increase access to education for disadvantaged groups.
Rural development is another critical area that has received CSR attention in Bihar. The state has a large rural population, and many of these areas lack basic amenities such as clean water, sanitation, and electricity. CSR initiatives have enabled companies to support rural development projects, including building infrastructure, providing vocational training, and supporting agricultural development. This has helped to improve the livelihoods of rural communities and reduce their dependence on government support.
The top CSR projects in Bihar in FY 2023-24 include:
- Construction of a hospital in Patna by a leading pharmaceutical company, worth ₹20 crore
- Education initiative by a technology giant, worth ₹15 crore, to support education infrastructure and teacher training in rural Bihar
- Rural development project by a leading steel company, worth ₹10 crore, to support infrastructure development and skill training in rural areas
The increasing focus on CSR in Bihar is a welcome development, and it is expected to have a significant impact on the state’s developmental landscape. The influx of CSR funds will enable companies to support critical initiatives that address the state’s pressing challenges, including poverty, education, and healthcare. Moreover, the growing awareness and commitment towards CSR among corporate entities will promote a culture of social responsibility and encourage other companies to follow suit.
In conclusion, Bihar’s CSR journey has been marked by significant progress, with the state receiving ₹260.53 crore in CSR support from over 325 companies in FY 2023-24. The top areas of focus for CSR initiatives in the state included health, education, and rural development, which received CSR funds worth ₹110 crore, ₹83.97 crore, and ₹38.08 crore respectively. The increasing focus on CSR in Bihar is a welcome development, and it is expected to have a significant impact on the state’s developmental landscape.
Source:
https://thecsrjournal.in/top-csr-projects-bihar-corporate-social-responsibility-3/
