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Firms spending on Covid-19 to be part of CSR: Govt

Mar 23, 2020 16:09 IST

The government has decided to include corporates' spending on checking coronavirus as part of the Corporate Social Responsibility. The Ministry of Corporate Affairs, said that corporate spending for various activities related to Covid-19 including promotion of healthcare, preventive healthcare, sanitation, disaster management would qualify for treatment as CSR. The interpretation of the activities qualifying as CSR for Covid-19 will also be interpreted liberally to prevent red tape from squeezing fund flows. The corporate social responsibility rules make it mandatory for large Indian firms to set aside at least 2 per cent of their average net profit for socially responsible expenditures.

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