Boosting oxygen, medical equipment capacity for Covid eligible as CSR: MCA

Contribution to the PM Cares Fund was also declared as an eligible activity under Corporate Social Responsibility of companies

The Ministry of Corporate Affairs (MCA) on Wednesday elaborated on eligible Covid-related expenditure which would qualify as eligible corporate social responsibility (CSR). These include creating health infrastructure for Covid care, establishment of medical oxygen generation and storage plants, manufacturing and supply of oxygen concentrators, ventilators, cylinders and other medical equipment for countering Covid-19.
 
Companies allowed to invest CSR funds into Schedule VII of the Companies Act would be able to contribute to specified research and development projects as well as public funded universities and certain organisations engaged in conducting research in science, technology, engineering, and medicine. Schedule VII includes