Hyderabad, April 8 Observing that the Telangana government is prioritizing education, health, and water resources, Chief Minister A Revanth Reddy on Wednesday urged corporate companies to choose either one of these sectors or any other sector of their choice to spend their CSR funds.
Reddy, who held a meeting with representatives of corporates here, said they should not view Corporate Social Responsibility (CSR) as an expenditure but as a partnership in societal development.
Since the companies are utilizing the local infrastructure available in a region, the chief minister said the managements should allocate a significant portion of their CSR funds towards the development of the same region.
Pointing out that 44 per cent of the state's student population resides in Hyderabad, he said the responsibility of providing them with quality education rests on the government, the private sector, and others, according to an official release.
In view of the absence of a proper mechanism for the utilization of CSR funds, the government has already appointed a Special Chief Secretary specifically for this purpose, he said.
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.
Reddy praised several corporate companies for contributing to the development of the education sector.
The representatives of companies who attended the meeting told Reddy that no one had ever approached them regarding CSR funds before. They appreciated the CM for taking the initiative and expressed their readiness to provide CSR funds to sectors, including school education, healthcare, and the conservation of heritage structures.