A decade on, CSR spend zooms but priority districts get little: Crisil

• 27 Mar 2026
• TM Team
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Spending on corporate social responsibility (CSR) in India has grown significantly since it became a legal mandate with the introduction of Section 135 of the Companies Act, 2013. Our analysis shows that, over the decade through fiscal 2024, qualifying listed companies collectively spent more than Rs 1.22 lakh crore on various CSR activities. Close to 63% (Rs 77,000 crore) of that was spent over fiscals 2020-2024, reflecting a clear surge in CSR intent and planning by India Inc in recent years.

Geographic distribution of the spend, however, remains uneven, with targeted investment in aspirational districts " which face the most developmental challenges " limited relative to overall spend.

In fiscal 2024, for instance, of the total 2,020 qualifying companies, only 397 implemented projects in aspirational districts — hardly 20% of the universe. The cumulative CSR spend of these 397 companies towards projects impacting aspirational districts was Rs 2,390 crore, i.e. 12% of the total CSR spend of Rs 19,208 crore, indicating the need for a more concerted effort.

The findings of the analysis, published in the 10th edition of Crisil's CSR Yearbook released today, titled 'Decade Decode', highlight an opportunity for deeper alignment with national development priorities.

Says Amish Mehta, Managing Director and CEO, Crisil Limited, "Over the past decade, CSR in India has matured significantly. We are seeing companies build stronger internal capabilities and assume greater ownership of programme implementation. This reflects improved governance, accountability and impact measurement. As India advances toward Viksit Bharat, with inclusive growth, a sharper alignment between corporate capital and regions with the greatest developmental deficits can meaningfully amplify long-term socio-economic outcomes. CSR 2.0 hinges on the ability of all stakeholders to adapt, innovate and build capacities to deliver high impact."

Meanwhile, in a notable shift, companies are progressively taking control of programme delivery, indicating stronger in-house execution capabilities, tighter programme oversight, reducing dependence on implementation partners.

Over the five years through fiscal 2024, the number of companies that utilised implementing agencies dropped to 566 from 1,082 in 2020, representing a decline to 28% from 78% of the total number of companies.