CSR funds for ‘Har Ghar Tiranga’
Recently, government announced for companies to spend CSR funds on activities related to ‘Har Ghar Tiranga’ campaign. Government is organising the “Har Ghar Tiranga Campaign” as a part of Azadi ka Amrit Mahotsav. The campaign is intended to encourage people to hoist national flag at their home to celebrate the 75th years of India’s independence.
The Corporate Social Responsibility (CSR):
- Some classes of profitable companies are mandated to transfer at least 2% of their annual average net profit towards the CSR activities, in accordance with the Companies Act, 2013.
- As per governments’ circular, CSR funds will be spent for the activities related to Har Ghar Tiranga campaign including mass scale production & supply of the national flag, amplification efforts and other related activities.
- These activities are eligible for CSR funds, in accordance with the provisions of Schedule VII of the Companies Act. Schedule VII is related to promotion of education relating to culture and CSR activities.
- Government’s circular also provides that, companies can undertake these activities, which are subject to complying with Companies (CSR Policy) Rules, 2014.
Har Ghar Tiranga campaign:
Har Ghar Tiranga is a campaign under Azadi Ka Amrit Mahotsav. It is being organised by government for encouraging people to bring the National Flag home and hoist to celebrate the 75th year of India’s independence. The main objective of this initiative is to invoke the feeling of patriotism in heats of people. The campaign also seeks to raise awareness on the Indian National Flag.
Month: Current Affairs - July, 2022
Category: Economy & Banking Current Affairs - 2023