The railway authorities have made a proposal towards exploring the option of using Corporate Social Responsibility (CSR) funds for improving facilities at the station.
Citing the case of Mukundwadi railway station, a D-category station — falling adjacent to local industrial area — the authorities said it would be a win-win situation for all if facilities at Aurangabad and in the region get a facelift through CSR.
“We appeal local corporate houses to divert their CSR funds towards improving railway infrastructure and facilities. While these funds are being used for other important causes, boosting Indian Railways would be another cause for spending the money,” A K Sinha, divisional railway manager for SCR, Nanded division said.
Under the Companies Act, 2013, a certain class of profitable companies is required to spend at least 2 per cent of their three-year annual average net profit towards CSR works in a fiscal. The norm came into effect on April 1, 2014. Nearly 400 companies have spent around Rs 5,857 crore towards CSR activities in past two years, the parliament was informed recently.
Sinha said Hindustan Aeronautics Limited (HAL) recently donated Rs 2 crore for installing water-filters and other facilities at Secunderabad division.
Chamber of Marathwada Industries and Agriculture (CMIA) president Gurpreet Singh Bagga said profit-making corporate houses would not be averse to offer helping hand to Indian Railways through CSR.
“We need to look upon the guidelines and legal framework as per which CSR funds are disbursed. If Indian Railways is entitled to receive funds under CSR, the proposal made by railway authorities can be considered,” he said.
This article was taken from here.