Ahmedabad: Even when Amul and Adani Group has joined as a sponsor for the Indian contingent at the ongoing Olympics in Tokyo, Sports receives less than 1% of the total corporate social responsibility (CSR), Gujarat Inc.
The company’s company in Gujarat around RS 910 Crore on various CSR projects in 2019-20, which only Rs 1.86 crore towards encouraging sports.
This is only 0.20% of the total CSR expenditure by 1,488 companies in 2019-20, according to the national corporate social responsibility data portal, which is an initiative by the Corporate Affairs Ministry.
Sports promotion is among various development sectors that have been identified for CSR expenditure.
In fact, the number of CSRs spent on promoting sports in Gujarat showed a 28% decline in 2019-20 by opposing Rs 2.59 Crore in the previous year.
Total CSR RS 1,066 Crore expenditure was recorded in 2018-19, CSR portal data showed.
Because it prefers to spend on health care, the education of CSR expenditure data for fiscal 2020-21 has not been collected, experts move that CSR expenditure for sports cannot increase.
Experts say that most companies utilize CSR funds for Covid-19 prevention and management during the year.
While local corporate companies continue to sponsor sports and ropes on sportsmen and athletes to support their brands, they prefer to spend most of their CSR funds in sectors such as health care, education and rural development.
“The CSR project is generally curated based on available annual funds, direct social needs and tangibility of intervention,” said Bhomik Shah, founder and CEO, CSRBOX, Ahmedabad based CSR advisory company.
“While educational projects, health care and rural development falls in social priorities and is real, investing in sports requires sustainable and sustainable investment, which is a CSR mandate today does not encourage.
It is not easy for CSR heads to print long pregnancy requirements project.
The peak management, “he added.
Health care, education and rural care project in Gujarat received CSR funds worth RS 315 Crore, RS 296 Crore and RS 86 Crore each in 2019-20.
Not only Gujarat, the trend is Pan-India similar to sports promotions get RS 263 Crore funds CSR, which is 1.2% of the total expenditure of CSR RS 21.213 Crore in 2019-20.
CSR expenditure also decreased by 11% in 2019-20 for 2018-19.