Hyderabad, March 27: Telangana Chief Minister Revant Reddy announced on Thursday that the state government will develop a special policy to attract and effectively utilize Corporate Social Responsibility (CSR) funds.
The Chief Minister instructed officials to organize annual events to honor the management and representatives of companies that contribute significantly to CSR funds in the state. These awards will be presented during the state formation day celebrations.
According to the Chief Minister’s office, a dedicated CSR cell will be established at the state level. This cell will coordinate ongoing CSR activities in the state and gather information on various government projects that could benefit from CSR funding.
Additionally, approval has been granted for the creation of a ‘Telangana CSR Portal.’ This portal will serve as a crucial link between the state government and corporate entities. It will provide detailed information about projects from different departments where companies can invest under CSR.
The Chief Minister emphasized that the portal should be user-friendly and visually appealing, allowing companies to easily select projects that align with their interests.
During the meeting, officials reported that Telangana currently holds only a 3% share of the total CSR contributions in the country. Expressing dissatisfaction, the Chief Minister stated that the state deserves a larger share of CSR funds and highlighted the need for better utilization.
He directed officials to take stringent measures to encourage local companies and industries to increase their CSR contributions and ensure the funds are spent within Telangana.
The Chief Minister also stressed the importance of studying strategies from other states to formulate a policy that attracts more companies to engage in CSR activities.
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