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Reliance maintains its No 1 position among India Inc in social responsibility spends
The Business Guardian
|August 08, 2024
As per Reliance Industries Limited's annual, the conglomerate maintained its position as India's largest corporate philanthropy.
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During the financial year 2023-24, Reliance contributed Rs 1,592 crores as part of various impactful CSR initiatives across the country through its dedicated philanthropy arm Reliance Foundation.
This took its three-year CSR cumulative spend to over Rs 4,000 crore for various corporate social responsibility initiatives (Rs 1,271 crore in FY23, and Rs 1,186 crore in FY22).
Companies in India are expected to set aside a small proportion of their funds to be used for Corporate Social Responsibility - CSR.
Reliance Foundation works across Rural Transformation, Health, Education, Sports, Women Empowerment, Arts Culture and Heritage and Disaster Management.
By 2023-24, Reliance Foundation said it has been able to touch the lives of 76 million people cumulatively across over 55,500 villages of India.
Key highlights of Reliance Foundation's work include rural transformation: Over 2.6 million people's lives enhanced with agricultural livelihood enhancement. Over 3.7 million people reached with knowledge and information advisories to transform their lives.
This story is from the August 08, 2024 edition of The Business Guardian.
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