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CSR Funds For Monuments

CSR Funds For Monuments:

A private member’s Bill has been introduced in Parliament mandating that 25% of all corporate social responsibility (CSR) funds be used for restoration, management and maintenance of ancient monuments and archaeological sites.

  • While some members supported the Companies (Amendment) Bill, 2019, few others disagreed with the mandatory provision.
  • The Archaeological Survey of India (ASI), the National Monuments Authority (NMA) and other agencies tasked with looking after monuments lacked the resources needed for the upkeep of the sites.
  • The aim of CSR is to benefit local communities. Therefore, the funds should not be diverted.
  • Corporate Social Responsibility is the integration of socially beneficial programs and practices into a corporation’s business model and culture.