India Inc spent Rs 1,600 crore to combat second wave of Covid-19
To fight the challenges posed by the second wave of Covid-19, over 57% of CSR initiatives were introduced for direct beneficiaries and Covid victims.
During the second wave of Covid-19, India Inc has spent over Rs 1,600 crore to mitigate the challenges posed by the pandemic. A recent study conducted by the CSR knowledge and impact intelligence platform, ‘CSRBOX’ stated that over 750 corporate social responsibility initiatives were launched in response to the second wave by a total of 350 public listed companies.
The report titled ‘CSR Response to COVID 2.0’ mentioned that to fight the challenges posed by the second wave of Covid-19, over 57% of CSR initiatives were introduced for direct beneficiaries and Covid victims.
The CSR initiatives for health care logistics like procurement of medical supplies, ventilators and safety gear like PPE kits constituted over 400. The ministry of corporate affairs had issued a notification that asked organisations to include Covid-19 response and relief work under schedule VII of CSR catalysed CSR action.
CSRBOX founder and CEO Bhomik Shah said, “Corporates have responded to Covid with great urgency and remarkable flexibility, fast-tracking CSR project approvals for the timely procurement of essential medical supplies, working in tandem with central, state governments and local agencies.”
Maharashtra, Gujarat, Karnataka, and Uttar Pradesh constituted 35% of the interventions that were implemented.