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India Inc spent over Rs 1,600 crore on mitigating second Covid-19 wave: Study

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CALCUTTA: India Inc. has spent more than Rs 1.6 billion fighting the second wave of COVID-19 in the 2020-21 financial year, a study said Monday.
The study that included more than 350 listed companies conducted by the CSR knowledge and impact intelligence platform – ‘CSRBOX’ indicated that Indian companies launched more than 750 corporate social responsibility initiatives in response to the second wave.
About 57 percent of CSR initiatives to combat the second wave of Covid-19 were aimed at direct beneficiaries: people infected by Covid, the report titled ‘RSE Response to COVID 2.0, ‘he said.
More than 400 of the corporate CSR initiatives to combat the second wave of infections targeted the procurement of medical supplies, fans and safety equipment like EPP Kits.
The recent notification from the Ministry of Corporate Affairs to include the response to COVID-19 and relief work in the VII CSR program catalyzed CSR action to mitigate the impact of COVID-19. “Businesses have responded to COVID with great urgency and remarkable flexibility, expediting CSR project approvals for timely procurement of essential medical supplies, working in conjunction with central, state and local agencies,” said the founder and director. CSRBOX executive, Bhomik Shah.
The report found that 35 percent of the interventions were implemented in Maharashtra, Gujarat, Karnataka, and Uttar Pradesh.
Support included more than 200 oxygen plants, establishing more than 75 makeshift hospitals and Covid wards with more than 10,000 beds, 3,500 ventilators, and 140,000 oxygen concentrators. Importantly, 33 companies contributed more than Rs 150 million to conduct community awareness activities in 17 states, according to the report.





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