Making amendments to the Companies Act, the Ministry of Corporate Affairs Ministry has said that contributions to 'Swachh Bharat Kosh' and 'Clean Ganga Fund' would come under CSR framework.
'Swach Bharat Kosh' has been set up to attract funds, from various entities including corporates, for activities related to Swachh Bharat initiative. The 'Clean Ganga Fund' is aimed at pooling money for taking up works to clean the Ganga river.
These two initiatives are the latest ones to be brought under the Corporate Social Responsibility (CSR) ambit where already contributions made to the Prime Minister's National Relief Fund has been included.
Through a notification, the Ministry has inserted the words 'including contribution to the Swach Bharat Kosh set up by the central government for the promotion of sanitation" in Schedule VII of the Act. Besides, the words "including contribution to the Clean Ganga Fund set up by the central government for rejuvenation of river Ganga" have been inserted in the Schedule.
- CS Suresh ThakurDesai
