Hyderabad, Apr 8 (TNT): Telangana Chief Minister Revanth Reddy on Wednesday invited corporate companies to partner with the government in social development initiatives through Corporate Social Responsibility (CSR) contributions, stating that such spending should be viewed as partnership rather than mere expenditure.
Addressing representatives of various companies during a meeting on CSR funds here, Reddy said the government is according top priority to education, healthcare and conservation of water resources, and urged corporates to contribute towards these sectors.
He said companies may also choose sectors of their own interest for utilisation of CSR funds and assured that the government would extend all necessary support for implementation of such initiatives.
Stressing that CSR spending must yield tangible and positive results, Reddy said the government considers expenditure on education as an investment in future generations.
He noted that 44 per cent of the state’s student population resides in Hyderabad and said ensuring quality education for them is a shared responsibility.
The Chief Minister urged companies to allocate a substantial portion of their CSR funds towards development of the regions where they operate and benefit from local infrastructure.
He said the government has appointed a Special Chief Secretary to streamline CSR fund utilisation and asked company representatives to coordinate with the official for implementation of projects in areas such as education, healthcare, water resources, skill development, heritage conservation and forest protection.
The Chief Minister appreciated Raheja Group, Ramky Group and Yashoda Foundation for contributing Rs 50 crore, Rs 50 crore and Rs 10 crore respectively towards educational development.
Corporate representatives welcomed the initiative and expressed willingness to contribute CSR funds towards school education, healthcare and preservation of heritage structures.
Several industrialists, senior officials and public representatives attended the meeting.
TNT TS
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