Odisha relief offering to be considered CSR spend

Mon,27 May 2019

India Incs contribution towards disaster relief in cyclone-hit Odisha will count towards their mandatory 2% Corporate Social Responsibility (CSR) spend, a senior government official told ET. It (counting of corporate relief towards CSR spend) would be covered under existing provisions and if any other special dispensation is required, the ministry of corporate affairs will do it, the official said. Cyclone Fani which made landfall in Odisha on May 3 has caused at least 41 deaths as well as acute water and power shortages in affected areas. The centre has declared the cyclone an extremely severe natural calamity and Prime Minister Narendra Modi announced Rs 1,000 crore in interim funding for relief work in addition to the previously sanctioned Rs 341 crore.

Source : The Economic Times May 9 2019