Firms contributed 25% less to PM’s Relief Fund in FY16

Companies’ contribution towards the Prime Minister’s Relief Fund fell by 25 per cent to ~80.55 crore during 2015-16 compared to the previous financial year, a report tracking the corporate social responsibility spend of 1,270 firms has revealed. However, during the financial year ended March 31, 2016, the 1,270 companies collectively spent ~8,185 crore, which was 27 per cent more than ~6,400 crore spent during FY15, according to the report by the CIIITC Centre of Excellence for Sustainable Development. The companies collectively had budgeted ~10,257 crore, which is 15 per cent more than the minimum budget required.