Corporate Social Responsibility (CSR) funds for the development of the infrastructure for health necessary to fight the Covid pandemic, the government has agree to investments in such activities to qualify as suitable corporate social responsibility (CSR) activities.

Ministry of Corporate Affairs clarifies that on Thursday said that spending capital on fixed temporary covid-19 hospitals and temporary care facilities can be considered as a suitable corporate social responsibility activity. The move was published in a circular by the Ministry of Corporate Affairs.

• In the past year, when the first wave of covid-19 cases had hit in March and the disease was declared a pandemic by the World Health Organization, the ministry had allowed the use of spending funds for covid-19 as a suitable or an eligible CSR activity. this movement was a clarification to last year’s circular.
• On January 22 this year, the MCA had also issued an order saying that spending capitals on awareness campaigns and public publicity programmes to promote vaccination against infectious disease would also be considered an eligible CSR activity.
• The Ministry of Corporate Affairs on Wednesday clarified that spending of CSR funds directly or through pooling of resources for 'creating health infrastructure for COVID-19 care are eligible CSR activities.

Resources for the 'creating health infrastructure for COVID care', would cover 'establishment of medical oxygen generation and storage plants' and 'manufacturing and supply of Oxygen concentrators, ventilators, cylinders and other medical equipment for countering COVID-19'.

The Indian government is searching for increased involvement of corporates in India to block the second wave of the pandemic, which has led to cases reaching record levels. On Wednesday, India added more than 300,000 cases while over 2,000 patients died, both new records.

Any funds moving in these activities by companies would qualify to be termed as CSR spending for meeting annual compliance. All the companies, including government entities, with a net value of Rs 500 crore or more and a turnover of Rs 1,000 crore or more, or a net profit of Rs 5 crore or more, are necessary to spend 2 per cent of their average profits of the past three years on CSR activities every year.

A ministry of corporate affairs circular said that CSR spending on COVID-19 health infrastructure and other actions can be undertaken directly by a company or in help as a shared responsibility with other companies. The explicative jump in daily new cases has moved to a shortage of medical oxygen, beds and drugs like remdesivir, while the vaccination effort is also seen slowing down due to a limitation of manufacturing capacity.

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