Indian IT Firms Spend Most of Their CSR Fund on Education: Nasscom

In Bengaluru, it is said that most of the Indian IT based firms spends major part of their income on education by arguing that this is the best way of fulfilling CSR (Corporate Social Responsibility). The Nasscom Foundation focuses on the main area of Educational prospects which has an aim to provide learning facilities to poor children especially who earns below than each dollar a day. Educational reforms and its expansion is the main area of IT firms based within the territory of India. According to the stats of IT firms, they spend more than 15% on gender equality along with poverty and other related issues in order to overcome with concerns that may arise in this particular country.

The survey which conducted by Nasscom Foundation, it suggests that more than 60% multi-national enterprises spend their entire funds of CSR on Education and other related social activities. SMEs based in India who have annual profit below than $5 million fully utilised their CSR funds on higher education. While, medium enterprises spends more than 70% of their budget on expanding educational activities in the entire country. The reports also suggested that there were 5% companies who spend less than 50% of their CSR budget on education during last year. In this sense, technological advancements and associated organisations have played vital role in educational platform setups for poor income families which is an excellent way to fulfilling CSR. In this particular conference, more than 300 IT companies, NGOs and civil societal entities participated in the conference which have an agenda to educate people which is the main source of reducing poverty in the country.

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