Budget 2022: Center may provide 1% Increment of CSR of Companies

The industry feels that the epidemic related restrictions can be removed so that business activities can be accelerated and due to this the process of getting the economy back on track continues.
Budget 2022: Center may provide 1% Increment of CSR of Companies

Budget 2022: Center may provide 1% Increment of CSR of Companies

The Confederation of Indian Industry (CII) has suggested the government make an additional provision of 1% in addition to the mandated 2% under Corporate Social Responsibility (CSR) in the upcoming Union Budget. This will encourage companies to provide booster doses of the Covid-19 vaccine.

CII said the number of patients admitted to hospitals is not very high due to the Omicron format. Therefore, the state governments should remove the restrictions imposed on economic activities due to corona.

<div class="paragraphs"><p>CSR</p></div>

CSR

TV Narendran, president of the Confederation of Industries, said, the government is suggested that a provision should be made to keep 1% mandatory CSR fund for vaccination. In the Budget for 2022-23, an additional 1% fee may be added to the CSR requirements for 12 months to provide preventive doses to people of all age groups. agency

Governments remove restrictions

The Confederation of Indian Industry said that the number of patients admitted to hospitals in the current Covid-19 wave is not high. In such a situation, the industry feels that the epidemic related restrictions can be removed so that business activities can be accelerated and due to this the process of getting the economy back on track continues.

<div class="paragraphs"><p>Finance Minister Nirmala Sitharaman</p></div>

Finance Minister Nirmala Sitharaman

Image Credit: Bloomberg

Demand to increase import duty on finished products

Domestic Appliances and Consumer Electronics Industry demanded separate support from the Finance Minister in the budget. The industry said the government should increase customs duty on the import of finished electronics goods. This will not encourage imports and will benefit domestic manufacturers.

In addition, there has been a demand to announce incentives on research and research for domestic companies under the Production Based Incentive Scheme. The Consumer Electronics and Appliances Manufacturers Association said the industry worth about Rs 75,000 crore is looking forward to some decisions that will boost domestic manufacturing.

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