Hyderabad, March 26 (NationPress) Telangana's Chief Minister, A. Revanth Reddy, announced on Thursday that the state will roll out a unique policy aimed at increasing the influx of Corporate Social Responsibility (CSR) funds while ensuring their optimal usage.

To incentivize companies to contribute more CSR funds, the Chief Minister has instructed officials to hold annual ceremonies to honor the management teams and representatives from companies that have significantly boosted CSR contributions to the state.

These arrangements for the award ceremony will be incorporated into the celebrations for the State Formation Day.

As per the Chief Minister's Office, Revanth Reddy has also proposed the establishment of a specialized CSR cell at the state level, complete with its own office.

This new cell will oversee CSR initiatives currently undertaken by corporate entities within Telangana and will gather data on projects across various government departments that are viable for CSR funding.

Additionally, a dedicated 'Telangana CSR Portal' has been approved during the review meeting led by the Chief Minister.

This portal will act as a crucial connection between the state government and corporate stakeholders.

It will also provide extensive information on various projects from multiple government departments that are available for corporate funding through CSR donations.

Chief Minister Revanth Reddy highlighted the importance of designing the portal to be engaging and user-friendly, allowing corporate firms to seamlessly connect with the state government and select projects that resonate with their interests and goals.

During the meeting, state government officials informed Chief Minister Revanth Reddy that Telangana currently receives only three percent of the total CSR contributions made in India.

Expressing dissatisfaction over the meager flow of CSR funds from industries within the state, the Chief Minister emphasized the necessity for Telangana to secure a larger share of CSR funds and their effective deployment.

Officials were instructed to implement stringent measures to address this issue.

They were also directed to encourage corporate companies and industries within Telangana to provide and utilize more CSR funds locally.

Chief Minister Revanth Reddy urged officials to investigate successful strategies employed by other states for mobilizing CSR funds.

He insisted that the new policy should be crafted to boost the share of CSR funds, advocating for strategies designed to attract corporate investment.