The corporate social responsibility (CSR) spending by top 100 listed firms in India is a mere Rs 2,300 crore, which is around 0.82% of their net profits, according to a study conducted by Socio Research and Reform Foundation.
The study said that CSR investment is led by the Reliance Industries Ltd that spent around Rs 357 crore during 2012-13. Other leading firms with high CSR spend include Tata Steel (Rs 146 crore), SBI (Rs 123 crore) and ICICI (Rs 117 crore).
Most other companies do not meet the proposed Companies Bill's requirement that necessitates a company to spend 2% of its net profit on CSR.
The study also dispelled the popular perception that CSR programmes are directly implemented by companies themselves and indicated that around 76% companies implement their CSR programmes through NGOs.