Govt may ask companies to spend 30% of CSR funds for Swachh Bharat Abhiyan
Zee Media Bureau
New Delhi: Large companies may soon be asked to devote 30% of CSR funds towards Swachh Bharat Abhiyan.
According to The Economic Times, the Centre is considering ways and means to fast-track Prime Minister Narendra Modi's top priority schemes - Make in India, Jan Dhan Yojana, Swachh Bharat, Digital India and Skill India.
The proposal is in line with the recommendation of Niti Aayog's panel of chief ministers headed by Andhra Pradesh CM Chandrababu Naidu.
The panel in its report has said, "A certain part of the CSR contributions by PSUs/Companies may be spent in the states where they are located." Niti Aayog's report had recommended several steps, saying "it is very comprehensive in its coverage and requires huge amounts of funds to cover all aspects of the mission." The government is also considering long-term, tax-free Swachh Bharat bonds to raise funds.
According to information given to Parliament, during 2014-15, the first year for CSR, the 2% profits of 460 companies comes to around Rs 8,347.47 crore, of which 75.92% has been spent for CSR activity during the year. This included 51 PSUs that spent Rs 2,386.60 crore.