Most CSR funds redirected, ensure efficient use: Minister Malhotra

Most of the CSR fund, which should ideally be spent for the benefit of the society, remains unutilised and is redirected to other government funds, Union Minister of State for Corporate Affairs Harsh Malhotra here said. According to Malhotra, who is also the Minister of State for Road Transport and Highways, the government mandates companies to spend 2 per cent of their annual profit on social causes and welfare. He made the remarks addressing the Healthcare CSR ChangeMakers Summit and Awards 2024, organised by HEAL Foundation. "Most CSR funds remain unutilised and are redirected to other government funds. CSR funds are allocated across 12 categories including education, health and Art and Literature. Proper utilisation of CSR funds could significantly benefit the society," the minister said, according to a statement by the NGO. He also praised HEAL Foundation's CSR initiatives in health and its support to marginalised athletes who won medals at international level. He highlighted