STOCK MARKET BSE NSE

Government permits CSR spending for makeshift Covid hospitals

The Centre has allowed corporates to classify spending on setting up makeshift Covid-19 treatment centres under their Corporate Social Responsibility (CSR) fund. 

Published: 23rd April 2021 11:08 AM  |   Last Updated: 23rd April 2021 11:08 AM   |  A+A-

money, 500 currency, cash

For representational purpose. (File Photo | PTI)

By Express News Service

NEW DELHI:  The Centre has allowed corporates to classify spending on setting up makeshift Covid-19 treatment centres under their Corporate Social Responsibility (CSR) fund. 

In a statement, the central government said, “... wherein it was clarified that spending of CSR funds for Covid-19 is an eligible CSR activity, it is further clarified that spending of CSR funds for ‘setting up makeshift hospitals and temporary COVID Care facilities’ is an eligible CSR activity under item nos. (i) and (xii) of Schedule VII of the Companies Act, 2013 relating to promotion of health care, including preventive health care, and, disaster management respectively”. 

The order from the Ministry of Corporate Affairs (MCA) added that the companies may undertake the aforesaid activities “in consultation with state governments subject to fulfillment of Companies (CSR) Rules, 2014”.

On January 22 this year, the ministry had also issued a similar order saying that spending funds on awareness campaigns and public outreach programmes to promote vaccination against the infectious disease would  be considered as an eligible candidate for CSR activity.

On Wednesday, India added more than 300,000 cases while over 2,000 patients died, both new records. The order will help many company to come forward to set up such hospitals with oxygen facilities.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp