The Indian IT companies emerged as the major player to spend more of their Corporate Social Responsibility (CSR) funds in 2016-17 on education, a survey conducted by Nasscom Foundation has found.
Industry top body Nasscom Foundation at its CSR Leadership Conference on 29Nov said, "Education remains the focus area of IT firms' CSR activities, with 76 per cent of multi-national companies reporting highest spend on it, followed by 18 per cent on gender equality and 12 per cent on hunger and poverty in fiscal 2016-17."
"The IT/BPM Industry has been at the forefront of social development initiatives and it is heartening to see the industry emerging as one of the most efficient and innovative adopters of corporate social responsibility," said Foundation Chief Executive Shrikant Sinha.
He added that, "Technology continues to be a force multiplier in social impact, with more than half of the companies that spent 100 per cent of their CSR funds, claiming efficient use of technology to deliver CSR programmes aligned to the government agenda."
A survey, titled "Catalysing Change", conducted by the Foundation with global CSR platform Goodera revealed that around 62 per cent of the Indian and multinational companies have spent 100 per cent of their CSR funds on education and allied social activities in the last fiscal.
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