NEW DELHI: In spite of a massive jump in the number of the uber rich and rich becoming richer, their contributions to charity continued to decline during the Covid-19 pandemic when a whopping 200 million-plus were forced into poverty, says a report.
While CSR (corporate social responsibility) spends have increased from 12 per cent in FY15 (two years into mandatory CSR spends) to 23 per cent in FY21, charity by the uber rich slipped from 18 per cent of the total funding in FY15 to a paltry 11 per cent in FY21, says global consultancy Bain & Company and charity-focused domestic consultancy Dasra in their India Philanthropy Report 2022.
