The Ministry of Corporate Affairs has clarified that Chief Minister’s Relief Fund or State Relief Fund for COVID-19 is not and would not qualify as admissible CSR expenditure. Whereas Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund) qualifies as CSR expenditure. However, contributions made to the State Disaster Management Authority to combat coronavirus disease would qualify as CSR expenditure.
Sandeep Goyal, the first CEO of the newly set up state CSR authority has said that Punjab has not got its faire share of CSR funds form corporate India. As data showsthe state received just Rs 234 crore of the total Rs 42,467 crore of corporate social responsibility spending by industry across states and UTs between 2015-16 and 2017-18. The satate will now trying to get in touch with the BSE 100 companies across the country that have substantial CSR budgets, and a Punjab presence of some size.
In an interview with CSRlive, Sdhaguru has said that - Corporate Social Responsibility need not be done as service; corporations can see this as a long-term investment. Business itself should be socially responsible. It is not necessary to see it as giving back to the community or doing service to underprivileged people. Only if people are healthy and well, they will buy what