CSR funds to help civic body in projects
Municipal commissioner Sitaram Kunte said, “In order to leverage CSR funds, BMC will create a dedicated cell that would serve as platform for corporate houses and public sector undertakings to interact with BMC.”
As per the Ministry of Company Affairs guidelines, corporate houses are mandated to set aside two per cent of their net profit towards CSR initiatives. Many firms are showing a keen interest in assisting causes related to health, education, environment and livelihood of the city, said Kunte.
The civic administration will involve Tata Institute of Social Science in the initiative and prepare a list of projects and activities for which BMC would be eligible for CSR funding. “An interested corporate or PSU can choose to contribute to any of the activities or projects being carried out by the BMC,” said Kunte.
Recently, the civic administration launched a Rs 95-crore scheme to clear garbage in the city, for which it was planning to seek support from corporate houses. Rahul Shewale, standing committee chairman and Shiv Sena corporator said, “We have approached Rashtriya Chemical Fertilisers (RCF) in Chembur to help the local ward office in keeping the city clean. We are hoping for finanical funding or other forms of participation from corporates.”
Highlights
n Total budget estimate for 2013-2014 ballooned
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