Companies’ Spending for Setting Up Makeshift Hospitals, Temporary COVID-19 Care Facilities Eligible to Fall Under CSR Activity: Govt
"It is further clarified that spending of CSR funds for setting up makeshift hospitals and temporary COVID care facilities is an eligible CSR activity...," the corporate affairs ministry said in a circular on Thursday.
New Delhi, April 22: The government on Thursday said spending by corporates for setting up makeshift hospitals and temporary COVID-19 care facilities will be considered as CSR activities. Under the companies law, certain class of profitable entities are required to spend at least 2 per cent of their three-year annual average net profit towards Corporate Social Responsibility (CSR).
"It is further clarified that spending of CSR funds for setting up makeshift hospitals and temporary COVID care facilities is an eligible CSR activity...," the corporate affairs ministry said in a circular on Thursday. Oxygen Crisis in Delhi: 25 Sickest Patients Die at Sir Ganga Ram Hospital, Authorities Demand Urgent Oxygen As Lives of Another 60 Sickest Patients in Peril.
The circular comes at a time when the number of coronavirus cases and related deaths are surging across the country, with many places seeing lack of beds and oxygen cylinders for patients.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)