
Companies can allocate CSR funds for 'Har Ghar Tiranga' campaign: Govt
The Ministry of Corporate Affairs has issued a circular permitting companies to spend their CSR funds for activities related to the 'Har Ghar Tiranga' campaign.
The campaign, a part of Azadi Ka Amrit Mahotsav, is being organised to encourage people to bring home the national flag and hoist it to celebrate 75 years of India's independence.
As per the circular issued by the corporate affairs ministry on Tuesday, the “Har Ghar Tiranga" campaign is aimed to invoke the feeling of patriotism in the hearts of people and to promote awareness about the Indian national flag.
"... Spending of CSR funds for the activities related to this campaign such as mass scale production and supply of the national flag, outreach and amplification efforts and other related activities are eligible CSR activities," the circular said.
Corporate Social Responsibility (CSR) activities come under the Companies Act, 2013. The Act states that certain class of profitable companies are required to shell out at least two per cent of their three-year annual average net profit towards social and other useful concerns for the betterment of their stakeholders and society in general in a voluntary way.
The activities are eligible for CSR funds under the provisions of Schedule VII of the Companies Act pertaining to promotion of education relating to culture.
The circular further stated that companies can undertake these activities subject to fulfilling the Companies (CSR Policy) Rules, 2014 and related circulars/ clarifications issued by the ministry.