Hyderabad, Mar 26 (TNT): Telangana Chief Minister A. Revanth Reddy on Thursday directed officials to formulate a ‘ dedicated policy for effective mobilisation and utilisation of Corporate Social Responsibility (CSR) funds’.
Speaking at a review meeting on CSR funds held at the Legislative Council Conference Hall here, the Chief Minister said corporate organisations contributing CSR funds for development and public welfare activities in the state should be formally recognised and appreciated by the government.
He suggested organising a special annual event to honour representatives of companies that make outstanding contributions, to be held as part of the State Formation Day celebrations.
Reddy also instructed officials to establish a state-level CSR cell along with a dedicated office.
The proposed cell will coordinate details of CSR activities undertaken by corporate companies, projects available across government departments, and initiatives that can be implemented through CSR funding, he said.
To strengthen coordination between the government and corporate entities, he directed the development of a dedicated Telangana CSR portal.
The portal will include comprehensive information on projects across various departments and enable companies to contribute CSR funds and select suitable initiatives.
He emphasised that the portal should be user-friendly and designed to attract corporate participation, allowing companies to easily engage with the government and choose appropriate projects.
Officials informed the Chief Minister that the state currently accounts for only about three per cent of CSR contributions at the national level.
Expressing concern, Reddy noted that CSR inflows into Telangana have not met expectations and questioned why companies established in the state were spending CSR funds elsewhere.
He stressed the need to increase CSR inflows and ensure that corporate firms and industries operating in Telangana spend a greater share of their CSR funds within the state.
The Chief Minister also directed officials to study CSR mobilisation strategies adopted by other states and incorporate best practices into the new policy framework to attract more corporate participation.
Senior officials, including Chief Secretary Ramkrishna Rao, Special Chief Secretary Sabyasachi Ghosh, Principal Secretary to CM Seshadri, and other senior officers, were present at the meeting.
TNT TS
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