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Bengal FM writes to Sitharaman to allow corporate funds for COVID-19 from CSR kitty

Apr 17, 2020, 13:16 IST
PTI
Kolkata, Apr 17 () West Bengal Finance MinisterAmit Mitra has urged the central government to allow companiesto contribute from their CSR kitty towards the emergency fundcreated by the state to fight the COVID-19 pandemic.

Mitra's letter to Union Finance Minister NirmalaSitharaman on Thursday echoed Chief Minister Mamata Banerjee'srecent stand on the issue.

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"West Bengal has set up a state emergency fund underthe umbrella of the CM's Relief Fund, exclusively for thepurpose of combating the coronavirus pandemic," he said.

Referring to a circular of the ministry of corporateaffairs, Mitra stated that corporate social responsibilityfunds for COVID-19 are eligible to be treated as "CSRactivity".

Mitra, however, added that there is confusion withregard to another ministry circular that said contribution tothe CM's Relief Fund or a fund created specifically by thestate for the pandemic does not qualify as CSR activity.

The Bengal minister said this will "seriouslyjeopardise" the state's effort to raise funds for fighting the"catastrophic crisis" of gigantic scale and magnitude. DCSCHRBT RBT

(This story has not been edited by www.businessinsider.in and is auto–generated from a syndicated feed we subscribe to.)
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