Public Sector Undertakings are way ahead of their private sector counterparts when it comes to contributing to the Clean Ganga Fund (CGF) as part of Corporate Social Responsibility (CSR).
Public Sector Undertakings are way ahead of their private sector counterparts when it comes to contributing to the Clean Ganga Fund (CGF) as part of Corporate Social Responsibility (CSR). The total corpus received from corporates is nearly Rs 197 crores, the government shows. Of this, the contribution of state-run entitites is around Rs 177 crore, while private companies donated a meagre Rs 20 crore as on January 31, 2018.
The Union government on Tuesday said that the quantum of funds received under the CGF, that was approved in 2014, till January 2018 stands at Rs 221.75 crore. The Ministry of Water Resources, River Development, and Ganga Rejuvenation press release also stated that no fund has been released under the CGF till January 2018. However, projects worth Rs.205.14 crore have been approved for funding under CGF in May, 2018 while states have been provided with Rs.33.13 crore for expenditure on these projects.
Government of India has set up the ‘Clean Ganga Fund’ as part of the Namami Gange programme to encourage contributions from Indians, NRIs, PIOs, institutions, and corporates towards Ganga rejuvenation. The Namami Gange programme is among the flagships of the current NDA government.
The CGF runs through a bank account that is operated by a Trust. Domestic donors to the fund are eligible for tax benefits as in the case of Swachch Bharat Kosh. Foreign donors could get suitable tax exemptions in domestic law, wherever permissible. Also, the CGF explores the possibility of setting up daughter funds in other countries of high donor interest such as USA, UK, Singapore, UAE, etc. to enable tax benefits to donors in their respective jurisdictions.
The Namami Gange Programme was approved in June 2014 with budget outlay of Rs 20,000 crore to accomplish the twin objectives of effective abatement of pollution, conservation and rejuvenation of the Ganga.