Unutilized CSR Funds and Celebrated Athletes: A Call for Change

Union Minister Harsh Malhotra highlighted the issue of unutilized CSR funds at the Healthcare CSR ChangeMakers Summit. Stating that most CSR funds remain underused and redirected, he also praised HEAL Foundation for supporting marginalized athletes. The event celebrated Indian athletes for their achievements in international competitions.

Union Minister of State for Corporate Affairs Harsh Malhotra raised concerns over the underutilization of Corporate Social Responsibility (CSR) funds that should ideally benefit society. Speaking at the Healthcare CSR ChangeMakers Summit and Awards 2024, organized by HEAL Foundation, he disclosed that a significant portion of these funds gets redirected to other government allocations.

Mandated by the government, companies are required to spend 2 percent of their annual profit on social causes. However, Malhotra noted that the effective utilization of CSR funds, spread across 12 categories, including education, health, and art, could greatly benefit society. He also praised HEAL Foundation for its CSR initiatives, particularly in health and for supporting marginalized athletes.

The event highlighted the success stories of Indian athletes, such as Vinai Kumar Kush and Krishna Kumar Samania, who won bronze medals at the Moscow Goodwill Cup. The summit also honored Indian Boccia athletes' achievements in Cairo, where they won multiple medals. HEAL Foundation awarded Rs 25,000 to each of the six athletes from its CSR fund, furthering the mission to empower communities and drive lasting change.

(With inputs from agencies.)