Karnataka Government to Mandate CSR Funds for Education

The Karnataka government, led by Deputy Chief Minister D K Shivakumar, is developing a policy to require companies to allocate their Corporate Social Responsibility (CSR) funds towards education, aiming to address employment issues. Additionally, the administration plans to introduce Karnataka model schools and a new tourism policy for Karavali.

In a significant move, Karnataka Deputy Chief Minister D K Shivakumar announced on Friday that the state government is drafting a policy to obligate corporates to spend their CSR funds on education. Speaking at the 47th annual general meeting of the Bangalore Chamber of Industry and Commerce (BCIC), Shivakumar emphasized the importance of Bengaluru and Karnataka's growth and the administration's commitment to supporting the industry.

'Our aim is to tackle the issue of employment head-on,' Shivakumar stated, revealing plans to channel corporate CSR funds into the education sector this year. This initiative is expected to help address employment issues significantly.

Furthermore, the government is planning to introduce Karnataka model schools and is urging corporates to adopt them. To support investors, a new cell will be established to provide hassle-free assistance. Additionally, a fresh tourism policy for Karavali is in the works to boost the local economy. BCIC President Designate Vineet Verma reaffirmed the chamber's commitment to being the industry's voice, providing advice and suggestions to both Central and state governments to foster industrial growth.

(With inputs from agencies.)