Vadodara: With Rs 7,140 crore allocated by more than 3,000 companies in the last five years, Gujarat has emerged as the third largest recipient of corporate social responsibility (CSR) funds in the country, after Maharashtra and Karnataka. Compared to 2018-19, when the state saw Rs 1,082 crore of CSR funds spent, there was an 86% increase in CSR spending to Rs 2,008 crore by 2022-23. These are the findings of the Gujarat CSR Performance Report 2018-2023, the latest report by Vadodara-based Fulcrum – Capitalising CSR, a consulting and research firm.
The report, released on Friday, states that from Rs 1,604 crore spent in 2021-22, Gujarat witnessed a 25% increase in CSR spending in 2022-23. Most CSR spending in the last five years went towards education (Rs 2,437 crore), healthcare (Rs 2,217 crore) and rural development (Rs 513 crore). "We are witnessing a new era where Gujarat's CSR funding is driving meaningful change in communities.
The state's focus on education, healthcare and sustainability is not only improving lives but also building a more equitable future," said Arun Mathai Marette, co-founder and co-CEO of Fulcrum. CSR investment in education nearly doubled from 2018-19 to 2022-23, as most corporate houses took up renovation of schools, gave scholarships to support poor students or enhanced the quality of education through teacher training programmes. At Rs 2,437 crore, CSR expenditure on education represents 34% of the state's total CSR expenditure.
Significantly,.