A Study on “Impact of CSR Fund Allocation in Education: Strengthening Human Capital Development for Viksit Bharat@2047”

Abstract

Corporate Social Responsibility (CSR) in India has evolved from philanthropic gestures to a structured legal mandate under Section 135 of the Companies Act, 2013, which requires eligible companies to spend at least 2% of their average net profits on sustainable social initiatives. Education has consistently remained the leading area of CSR funding, receiving the largest share of allocations over the past decade, reflecting its role in strengthening human capital and aligning with the long-term vision of Viksit Bharat@2047. This paper examines the impact of CSR fund allocation in education on human capital development in India between 2014 and 2024 using a narrative review approach. The researcher has relied on secondary data sources, including corporate disclosures, government reports, and academic literature published over the last ten years. The study systematically analyzes this material to trace broad patterns of CSR engagement in education, covering areas such as access, infrastructure, capacity-building, and skill development. The findings indicate that CSR in education is contributing meaningfully to expanding opportunities and strengthening the foundations of human capital. Over Rs. 31,332 crore has been allocated by the top 10 CSR-funded states for education initiatives, with an average of 28.24% of total CSR funds directed toward educational programs. The study reveals a compound annual growth rate (CAGR) of 14% in education CSR funding from 2019-24, demonstrating sustained corporate commitment. However, significant variations in scale and implementation across initiatives persist, along with challenges in outcome measurement and alignment with national policies like NEP 2020.