India's Finance Minister Nirmala Sitharaman Announces CSR Funding for Incubators and R&D

Finance Minister Nirmala Sitharaman told Parliament that the Companies Act now permits corporate social responsibility (CSR) funds to be allocated to incubators and research‑and‑development projects in technology, engineering and medical sectors. The government is examining mechanisms to channel CSR contributions toward innovation, social entrepreneurship and community‑benefit initiatives, covering areas such as education, environmental sustainability, gender equality, health services, safe drinking water and rural development.

The minister said the legal framework already obliges companies to invest in these priority sectors, and the administration is working to expand the role of CSR in addressing development challenges and creating jobs across the country.