Business Today
Loading...

COVID-19: Setting up makeshift hospitals to be considered CSR activity

Under the companies law, certain class of profitable entities are required to spend at least 2 per cent of their three-year annual average net profit towards Corporate Social Responsibility (CSR)

twitter-logoPTI | April 22, 2021 | Updated 22:37 IST
COVID-19: Setting up makeshift hospitals to be considered CSR activity
The circular comes at a time when the number of coronavirus cases and related deaths are surging across the country

The government on Thursday said spending by corporates for setting up makeshift hospitals and temporary COVID-19 care facilities will be considered as CSR activities.

Under the companies law, certain class of profitable entities are required to spend at least 2 per cent of their three-year annual average net profit towards Corporate Social Responsibility (CSR).

"It is further clarified that spending of CSR funds for setting up makeshift hospitals and temporary COVID care facilities is an eligible CSR activity...," the corporate affairs ministry said in a circular on Thursday.

The circular comes at a time when the number of coronavirus cases and related deaths are surging across the country, with many places seeing lack of beds and oxygen cylinders for patients.

Also read: Oxygen tanker kept waiting amid shortage; Apollo director Sangita Reddy urges Centre to intervene

Also read: Registration for vaccination of 18 yrs and above from Apr 28; here's how to register on CoWin

Also read: Fourth COVID-19 vaccine soon; Biological E's shot likely to hit markets in August

  • Print
  • COMMENT
BT-Story-Page-B.gif
A    A   A
close