In a week, India has seen a huge rise in the number of people affected by Coronavirus. A developing country like India which is still building its health infrastructure is way behind the developed countries of the western world and autocratic nations like China.
Billionaires and corporations all over the world are making huge donations to fight this pandemic which has converted a few countries into prisons. India, which is known for its philanthropic industrialists is not behind.
Finance Minister of India, Ms Nirmala Sitharaman clarified in a statement about spending CSR funds for COVID-19.
In view of the spread of novel #CoronaVirus in India, its declaration as pandemic by the WHO, and decision of Government of India to treat this as notified disaster, it is hereby clarified that spending of CSR funds for COVID-19 is eligible CSR activity. #IndiaFightCorona pic.twitter.com/XQneNBaJe8
— NSitharamanOffice (@nsitharamanoffc) March 23, 2020
The ministry of corporate affairs (MCA) on Sunday said donations to the Prime Minister’s emergency fund set up to fight the Covid-19 pandemic will qualify as corporate social responsibility (CSR) spending that companies are mandated to make.
Finance and corporate affairs minister Nirmala Sitharaman tweeted that donations from CSR funds can now be made to the Prime Minister’s “Citizen Assistance and Relief in Emergency Situations” (PM CARES) fund. The minister also tweeted an MCA notification, which said the fund was set up primarily to deal with any emergency or distress situation such as the one posed by the Covid-19 pandemic. “It is clarified that any contribution made to the PM CARES fund shall qualify as CSR expenditure under the Companies Act 2013,” it said.
Mr Anand Mahindra, Chairman, Mahindra Group, faced severe backlash from Left-Wing trolls when he shared on Twitter that he will support PM Narendra Modi’s clarion call of appreciating people who are risking their lives in providing essential services. He was also one of the first to announce that he will donate his entire salary to fight this Wuhan virus pandemic. He also announced other measures in which the Mahindra Group will help the nation fight this epidemic.
—Our Projects team stands ready to assist the Govt/Army in erecting temporary care facilities. —The Mahindra Foundation will create a fund to assist the hardest hit in our value chain (small businesses & the self employed) (4/5)
— anand mahindra (@anandmahindra) March 22, 2020
Vedanta Group Chairman, Mr. Anil Aggarwal, announced a fund of Rs. 100 crore to fight Coronavirus. Vijay Shekhar Sharma of PayTM has contributed Rs. 5 crore towards development of drugs to fight Coronavirus.
I am committing 100 cr towards fighting the Pandemic. #DeshKiZarooratonKeLiye is a pledge that we undertook & this is the time when our country needs us the most. Many people are facing uncertainty & I’m specially concerned about the daily wage earners, we will do our bit to help pic.twitter.com/EkxOhTrBpR
— Anil Agarwal (@AnilAgarwal_Ved) March 22, 2020