The company Affairs Ministry on Thursday clarified that expenditure incurred by India Inc on consciousness campaigns on the Covid-19 vaccination programme can be counted in the direction of their necessary Corporate Social Responsibility (CSR) expenditure. All firms with a web value of Rs 500 crore or extra, a turnover of Rs 1,000 crore or extra, or web revenue of Rs 5 crore or extra are required to spend 2 per cent of their common revenue of the earlier three years on CSR actions yearly.
“… spending of CSR funds for carrying out awareness campaigns/programmes or public outreach campaigns on Covid-19 vaccination programme is an eligible CSR activity,” the Ministry stated in a notification. Prime Minister Narendra Modi is ready to launch the rollout of India’s Covid-19 vaccine programme on January 16 with about 3 lakh healthcare staff set to obtain vaccine photographs on the primary day of the programme.
The Corporate Affairs Ministry had final yr taken plenty of steps to make sure that firms may classify spends on tackling Covid-19 as a part of their CSR expenditure. The Ministry had notified las yr that any donations to the PM-CARES Fund and state catastrophe catastrophe administration authorities would depend in the direction of necessary CSR expenditure.
