Education, Health and conservation of water resources are priority sectors
Do not consider CSR funds as expenditure alone
Appeals to business honchos to select the sectors on their own and contribute CSR funds
Government will provide necessary support in CSR initiatives by the corporates
CM Revanth Reddy holds a meeting with company representatives
Hyderabad, April 08: Telangana Chief Minister Revanth Reddy emphasized that the contributions made towards social development by the corporate companies should be considered as a subscription of the partners and not merely as expenditure in the development of the state or wellbeing of the people.
At a meeting on CSR (Corporation Social Responsibility) funds with the representatives of various corporate companies on Wednesday, the Chief Minister stressed that spending by the companies under the CSR initiatives must yield 100 percent positive results. The CM explained the government accorded top priority to education, healthcare, and water resource conservation.
CM Revanth Reddy also suggested that the companies choose the sectors on their own to utilize the CSR funds. The Chief Minister noted that the students will possess skills to grab the world of opportunities if the government and companies spend money combined. The CM further stated the government considers the expenditure on education as an investment in future generations.
CM Revanth Reddy pointed out that 44 percent of the state’s student population resides within Hyderabad city alone and asserted that the responsibility of providing them with quality education rests upon all of us. Since the companies were utilizing all the local infrastructure available in a region, the Chief Minister said the management should allocate a significant portion of their CSR funds toward the development of the same region.
In view of the lack of a proper mechanism for the utilization of CSR funds, the CM said that the government has already appointed a Special Chief Secretary specifically for this purpose. The company representatives were requested to coordinate with the official to utilize their CSR funds for any area of their interest—such as education, healthcare, water resources, skill development, preservation of heritage structures, or forest conservation.
The Chief Minister praised Raheja Group, Ramky Group and Yashoda Foundation for already coming forward and contributed Rs 50 crore, Rs 50 crore, and Rs 10 crore, respectively, toward the development of the education sector. The other company representatives in the meeting told the CM that no one had ever approached them regarding CSR funds before. They appreciated CM Revanth Reddy for taking the initiative and expressed their readiness to provide CSR funds in school education, healthcare, and conservation of heritage structures.
Shravan Kumar from the Raheja Foundation; Dakshayani Alla (Ramky Foundation), Dr. Gorukanti Surender Rao and Gorukanti Phalgun Rao from Yashoda Hospitals, Sudha Reddy from Megha, Aparna Reddy and Kamineni Bhaskar Reddy from Apollo Hospitals, Sekhar Reddy from the Indian Green Building Council, Pagidipati Devayya and Rudramadevi from the NAADAM Foundation attended the meeting.
MP Vem Narender Reddy, CM’s Special Secretary Ajith Reddy, Education Department Secretary Yogita Rana, Education Special Secretary Venkatesh Dhotre, Commissioner of Technical Education Sridevasena, Director of School Education Naveen Nicholas and others were also present.