Punjab mulls matching grant to CSR projects

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Chandigarh, Dec 1 (UNI) Punjab Finance Minister Manpreet Singh Badal today stated that the state government was keen on corporates involving themselves in social welfare schemes in the state and is considering providing a matching grant to any amount a company spends on such initiatives for the poor including education and healthcare.

Such companies in the state would find their money put to good and productive use, he said while addressing the Corporate Social Responsibility (CSR) Best Practices Meet, at the Confederation of Indian Industry (CII) headquarters here.

Mr Badal said according to Union government's estimates eight per cent of the people of Punjab were poor as compared to the national average of 28 per cent, adding that a major asset for the state was its own hard working people.

The finance minister also officially released a paper entitled ''Social equity and affirmative action implementation strategy'' and a CD compendium on CSR Best Practices Meet, with the theme Corporate Social Responsibility, Affirmative Action and Business.

Earlier, Chairman CSR Sub committee and Managing Director Lumax Industries Dr D K Jain stated that it has become very important for industry to associate itself with nation building and implement programme that underscore their keenness to live up to their social responsibility.

Raising a clarion call for affirmative action, CII Northern Region deputy chairman Salil Singhal said we will have to keep the coming generations in mind.

Indian companies have to start taking CSR even more seriously so that the great Indian growth story becomes a reality for federations to come.


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