Cos' spending for setting up makeshift hospitals to be CSR activity: Govt

Under the companies law, a 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).

New Delhi: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.

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"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 a lack of beds and oxygen cylinders for patients.

PTI

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