In its circular, Department of Chemicals and Petrochemicals highlights the opportunity to utilize the unspent CSR funds for Financial Year 2019-20 by contributing to the PM CARES fund immediately. Similarly, the Chemicals & Petrochemicals companies may contribute to this fund from April 2020 onwards from the anticipated CSR spending of FY 2020-21, says the circular.
Looking at potential scale of the spread of Novel Coronavirus (COVID-19) and its impact on health and well-being of our citizens, the ministry has urged the industry to contribute maximum possible amount of their CSR budget in the above mentioned fund so as to contribute in the nation’s efforts at this crucial juncture.
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