CSR contribution in the growth 4th SDG goal – Education

Education needs Urgent Attention

Education in India has been one of the major concern for Indian government as despite the extensive efforts by them the desired result has not been achieved. Scholars over the world have tried to give different theories around the problems. UN has also tried to ensure the growth of education through their initiatives. The Sustainable Development Goal – 4th SDG goal – Education aims to ensure inclusive and equitable quality education for all, promoting lifelong learning opportunities.

This goal recognizes the transformative power of education to reduce poverty, increase economic growth, promote gender equality, and enhance individual and societal well-being. Achieving this goal requires addressing a range of challenges, such as improving access to education, reducing dropout rates, enhancing teacher training and support, increasing educational infrastructure, and promoting innovative approaches to learning.

However, without acknowledging the role that corporate can play in educating our masses we cannot imagine to achieve desired result. The Companies Act, 2013 which opened the doors for corporate to spend in development of various sectors through their CSR initiatives was a major landmark for development in Education as the education sector has been the major beneficiary of this mandatory CSR provision resulting in improved funding for the institutions. CSR in education has promoted education along with ensuring gender equity by targeting girls, providing toilets and other infrastructure, libraries for rural school education, etc.

Companies Spending in CSR

Until 2022 corporate sectors have the collective budget of 123253.72 lakh to spend in the development of Education. Among the top companies that are dedicated to improving the education sector in India through their Corporate Social Responsibility (CSR) initiatives are Reliance Industries, NTPC, Wipro, Azim Premji University, and Infosys. Reliance Foundation Education and Sports for All provides quality education and life skills to underprivileged children through its partnership with NGOs and its Digital Learning Van initiative. NTPC Utkarsh scholarship is given out annually to 7,300 students from secondary school to college level. The company also provides mobile science labs and personal computers to support education in government schools. Wipro’s CSR initiatives include Systemic Reforms in School Education, tailored programs for children with disabilities, and its flagship Wipro Earthian program, which combines education and sustainability. Azim Premji University offers need-based scholarships and courses that promote social change through education. Finally, Infosys collaborates with non-profits like Avanti Fellows to improve the quality of STEM education. For students from low-income backgrounds and to address issues such as high dropout rates among children from BPL families.

Way Ahead

A lot is being done but a lot more needs to be done as these corporate firms have access to resources, which can be used to promote education. The government can motivate companies to invest in education through creating a favorable policy environment. For example, the government can offer tax incentives to companies that invest in education through their CSR activities. Additionally, the government can create policies that require companies to report on their CSR activities, including their investments in education. This would increase transparency and accountability, which could motivate companies to invest more in education. The government can also work with education institutions and other stakeholders to create partnerships and collaboration opportunities. This encourages companies to invest in education. Overall, by creating a supportive policy environment and incentivizing CSR activities, the government can motivate companies to invest in education and contribute to the development of society.

It is not just that just citizen benefit from educated population as the corporates will have easy availability of workforce and a consumer base who is aware of the company. This will also ensure good will for the company in the market. So the government with the support of local population should ensure more and more CSR investments are done in Education.

Read More: Project Panchhi: An enterprise by Vedanta for Girls Education