India’s uber-rich give less than 1 percent of wealth to philanthropy: report

According to the report, although social sector funding in India has grown approximately 12 percent annually, this was largely driven by government spending.

India’s uber-rich give less than 1 percent of wealth to philanthropy: report
Photo by Ayaneshu Bhardwaj / Unsplash

In spite of the rise in India’s superrich and billionaires, their consequent contributions to charity has dramatically reduced when compared to their recent surge in net worth over the course of the pandemic, says new report.

The India philanthropy Report 2022 is an annual report published by the philanthropy foundation Dasra and the global consultancy firm Bain and Company giving an overview of social sector funding and the contributions of various stakeholders in India. It notes that although social sector funding or philanthropic giving in India is shown to have risen by 20 percent in FY 2021, this was primarily due increased government expenditure in social spending.