India Inc’s CSR spend tops ₹1.22 lakh crore in a decade; gaps persist in regional distribution: Crisil
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Corporate social responsibility (CSR) spending in India has risen sharply since becoming a statutory requirement under Section 135 of the Companies Act, 2013, with companies collectively spending over ₹1.22 lakh crore through fiscal 2024, according to a report by Crisil.
The report shows that nearly 63% of the total spend, around ₹77,000 crore, was incurred between fiscals 2020 and 2024, highlighting a key acceleration in CSR activity and intent among corporates in recent years.
Despite the rise, the geographic distribution of CSR investments remains uneven, with relatively limited allocation to aspirational districts that face acute developmental challenges. In fiscal 2024, only 397 of the 2,020 eligible companies undertook projects in such districts, accounting for just about 20% of the total. Their combined spending stood at ₹2,390 crore, or 12% of the overall CSR outlay of ₹19,208 crore.
The findings, published in the 10th edition of CRISIL’s CSR Yearbook titled ‘Decade Decode’, underscore the need for better alignment of corporate spending with national development priorities.
Amish Mehta, Managing Director and CEO of Crisil, said CSR in India has matured significantly over the past decade, with companies strengthening internal capabilities, governance standards and impact measurement frameworks. He noted that as India moves toward its “Viksit Bharat” vision, sharper alignment of corporate capital with underserved regions could enhance long-term socio-economic outcomes.
The report also highlights a structural shift in programme execution, with companies increasingly taking direct control of CSR initiatives. Over the five years through fiscal 2024, the number of companies relying on implementing agencies declined to 566 from 1,082 in 2020, reducing their share to 28% from 78%.
Industry interactions suggest that a shortage of capable non-governmental organisations (NGOs), particularly in rural areas, remains a key challenge. Many implementing agencies lack adequate capacity for designing, executing, and measuring high-impact projects despite strong intent.
This, the report noted, calls for NGOs to strengthen governance, compliance, financial management and technological capabilities to effectively utilise CSR funds. At the same time, corporates need to invest in building the capacity of both NGOs and in-house CSR teams, the report states.
Maya Vengurlekar, Chief Operating Officer at CRISIL Foundation, said CSR in India is moving from a cheque-writing approach to structured programme management with stronger monitoring, outcome tracking and board-level oversight. She noted that the next phase will hinge on strategic, data-driven allocation of funds, particularly toward regions with concentrated developmental deficits.
Meanwhile, the government has introduced the Corporate Laws (Amendment) Bill, 2026 in the Lok Sabha to ease compliance and improve the ease of doing business. Proposed changes include raising the net profit threshold for CSR applicability to ₹10 crore from ₹5 crore and extending the timeline for transferring unspent CSR funds to 90 days from the current 30 days.
The report concludes that CSR will remain a critical lever in India’s transition toward “Viksit Bharat”, supporting sustainable development goals and long-term socio-economic progress.