Treat CSR funding as partnership for social development: Revanth to corporates

Hyderabad: Chief minister A Revanth Reddy on Wednesday appealed to the corporate sector to see their funding under corporate social responsibility (CSR), not merely as an expenditure but as a partnership with the state govt for social development.The CM held a meeting with representatives of various companies regarding CSR funds and emphasised that the funds companies allocate towards CSR initiatives must yield 100% results. He informed the representatives that the incumbent govt prioritises education, healthcare and water resource conservation.However, the CM made it clear that, in addition to these areas, the corporate companies were free to choose any other sector of their preference in which to utilise their CSR funds."Through the combined funds of govt and the companies, students from Telangana can be moulded into individuals possessing world-class skills, thereby preparing them to seize future opportunities. Govt views spending on education as an investment in future generations. Over 44% of the state's student population resides in Hyderabad. The responsibility of providing them with quality education rests upon all of us," Revanth said.He stated that since companies utilise all the local infrastructure available in a region, they should allocate a significant portion of their CSR funds towards the development of that region.The chief minister noted that, given the lack of a proper mechanism for the utilisation of CSR funds until now, govt has appointed a special chief secretary specifically for this purpose. The CM explained that company representatives could coordinate with the official to utilise their CSR funds for any area of their interest, such as education, healthcare, water resources, skill development, the preservation of heritage structures or forest conservation.He extended his appreciation to Raheja Group, Ramky Group and the Yashoda Foundation, noting that they have already come forward to allocate 50 crore, 50 crore and 10 crore, respectively, towards the development of the education sector.The CMO said the company representatives appreciated the way the CM approached them regarding CSR funds. They evinced interest in school education, healthcare and the preservation of heritage structures.