Individuals lead the way in philanthropy, even as firms' contribution falls

Private funds raised for philanthropy and the social sector in India hit a record high of Rs 70,000 crore in 2017-18 (FY18), growing at a compound annual growth rate (CAGR) of 14-18 per cent over the last eight years. While both the share and the amount from foreign contributions fell dramatically owing to the government crackdown on foreign NGOs, it was more than made up for by individuals, whose philanthropic contributions in FY18 accounted for a sizeable Rs 43,000 crore. However, the contribution of domestic corporations to the social sector is slowing. According to exclusive extra.....

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