Corporates can offer mobile connectivity to 50,000 villages through CSR’

MUMBAI, . The corporate sector through its corporate social responsibility (CSR) arm has the ability to provide mobile connectivity to 50,000 villages, says a report by the Federation of Indian Chambers of Commerce and Industry (FICCI) and consulting firm Accenture.

 

As per the Companies Act, 2013, most businesses are required to allocate 2 per cent of their profit for CSR activities. According to estimates around 16,000 companies would spend about Rs.20,000 crore towards CSR activities in 2014-15.

 

“This (amount) equals to the Central Government’s total allocation to provide mobile connectivity to 50,000 villages, which wireless telephony has yet to touch. CSR budgets that stand to be unlocked this year tantamount to 80 per cent of the budgetary allocation towards fertilizer subsidy bill for 2014-15. The Hindu