Spending Of CSR Funds For COVID-19 Is CSR Activity: FM

The Finance Minister tweeted that companies spending CSR funds for COVID-19 activities such as disaster management, prevention and healthcare and sanitation are eligible as CSR activity. This move is expected to benefit local communities. The law requires companies with turnovers above ₹1,000 crores or a net worth of atleast ₹500 crores or net profit of ₹5 crores to spend 2% of their net profit on CSR.