Aurangabad: Streamline CSR funds for pandemic management, says City-based economist D S Kate

Aurangabad: City-based economist D S Kate, who is one of the resource persons associated with the advocacy group Arthakranti, said all CSR funds should be streamlined for pandemic management. In a letter to the prime minister’s office (PMO), Kate said such a measure can help the government minimize economic damage caused by the outbreak.

“Annually, CSR funds are collected from all corporate companies and are utilized under different heads. However, during this pandemic, the CSR funds should be streamlined for Covid-19 treatment and related welfare purposes,” Kate said.

In order to motivate corporate firms to spend the CSR amount immediately, Kate said the government should give these companies certain tax benefits. “The corporate firms can be given weighted deductions under Income-Tax Act, 1962, or any local taxation upto 20% as an incentive,” he said.

The Chamber of Marathwada Industries and Agriculture (CMIA) said corporate firms were already channelizing the funds for effective Covid management. “The need is to have adequate health infrastructure. Most of the firms in the region have spent their CSR funds on pandemic management,” CMIA secretary Satish Lonikar said.

Meanwhile, Siemens Limited here provided critical diagnostics equipment for Covid-19 response to the Government Medical College and Hospital, Aurangabad.