Ministry widens list of eligible CSR activities related to COVID-19
The Ministry of Corporate Affairs (“MCA”) issued a clarification on spending of Corporate Social Responsibility (“CSR”) funds on May 05, 2021. While it was previously clarified by the MCA that spending of CSR funds for COVID-19 related activities is an eligible CSR activity, the recent clarification expands the scope of eligible CSR activities.
It now also includes:
• Creation of healthcare facilities for COVID-19 care;
• Establishment of medical oxygen generation and storage plants;
• Manufacture and supply of oxygen concentrators, ventilators, cylinders and other medical equipment;
• Contribution to specified research and development projects;
• Contribution to public funded universities and organizations engaged in conducting research in science, technology, engineering and medicine.
Further to this clarification, all companies including government companies may undertake activities, projects or programmes under this widened list using CSR funds, directly by themselves, or in collaboration as a shared responsibility with other companies.
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