With Covid shadow looming large over businesses, CSR activity is likely to get impacted. Quoting a report by consulting firm FSG, The Economic Times (https://economictimes.indiatimes.com/news/company/corporate-trends/india-incs-traditional-csr-may-end-up-in-containment/articleshow/75541815.cms?from=mdr) recently reported that the “near- and medium-term focus of India’s CSR donors will be Covid-19 and the funding for traditional CSR activity could be reduced by 30-60%”. The report mentions that though companies would want to support their associate NGO partners, some of these commitments may have to be reduced. Corporates may move their social sector funds to solidify the government’s fight against the pandemic. Significant contribution has poured in from the corporate sector to the PM CARES Fund that’s eligible for tax breaks under Section 80G of the Income Tax Act (https://www.moneycontrol.com/news/trends/expert-columns-2/coronavirus-impact-will-covid-19-change-the-contours-of-csr-in-india-5265901.html).
These are unprecedented times, and collectively we have to fight the war against Covid-19. Every effort helps. Please browse through the Tatsat Communique where we have spotlighted some newsy happenings.
Sumi Gupta, Director, Tatsat Foundation