Home / HEADLINES / Union Minister Sadanand Gowda urges PSUs under his Ministry to release their CSR funds for fighting COVID-19 Pandemic

Union Minister Sadanand Gowda urges PSUs under his Ministry to release their CSR funds for fighting COVID-19 Pandemic

In a letter sent to CMDs of all the PSUs, Sadananda Gowda has said, Government of India is taking all possible steps to prevent spreading of the outbreak ,  however  a public health situation of this scale requires concerted efforts from all sections of the society ,therefore I request you all to contribute maximum possible  amount of your CSR budget to PM CARES.

He said, Government of India has set up the PM CARES fund with the primary objective of dealing with any kind of emergency or distress situation such as that posed by COVID-19 pandemic and the Ministry of Corporate Affairs, has already clarified that any contribution made to the said fund shall qualify as CSR expenditure under the Companies Act 2013.

Sadananda Gowda said that it is a good opportunity for the PSUs to utilize their unspent CSR funds for financial year 2019-20 by contributing to the above fund immediately. Similarly the  companies may also contribute to this fund from April 2020 onwards for FY 2020-21.

Central Minister said that he has also requested CMDs of all the PSUs to motivate the employees of their company to voluntarily contribute at least one day of their monthly salary to PM CARES fund.

Sadananda Gowda has donated his one month salary and one crore rupees from his MPLAD fund to PM National Relief Fund. 

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