India Inc is gearing up to step up efforts in ramping up Covid 19 vaccination programme as the Narendra Modi government announced opening up the exercise for all citizens above the age of 18 from May 1.
According to a report by Bloomberg Quint, the country’s corporate sector has urged the Centre to allow companies to use corporate social responsibility (CSR) funds towards the vaccination programme, not just for their own employees but the broader communities.
In an interview to Bloomberg Quint, Sanjiv Bajaj, chairman and MD, Bajaj Finserv Limited, who is also serving as the vice president of Confederation of Indian Industry said that the industry body as requested the Centre to include public vaccination under the CSR ambit.
“We have to do what is right for the employees and communities. That’s the practical way in spreading vaccination,” he said in the interview.
Businesses have been underlining the need to embark on mass vaccination to control the spread of the virus. Lockdown, experts said, was a short cut route which is ineffective.
Last year, the government allowed corporate spending for various activities related to Covid-19 including promotion of healthcare, preventive healthcare, sanitation, disaster management to be qualified as CSR.
Donations made by companies to the Prime Ministers Citizens Assistance and Relief in Emergency Situations Fund (PM-CARES Fund) have also been included as expenditure under CSR.
CSR rules make it mandatory for large Indian firms to set aside at least 2 per cent of their average net profit for socially responsible expenditures. The norms are applicable to firms with at least Rs 5 crore net profit or Rs 1,000 crore turnover or Rs 500 crore net worth. The list of activities included under CSR is decided by the government.
Assocham secretary general Deepak Sood, in a statement said that the industry body has reached out to its members, asking them to take necessary action to protect the labour force.
"It is up to us, the industry to reach out to our workforce and stand by them in the hour of crisis,” he said.
On Monday, Modi announced opening up of vaccination programme for all Indian adult. Sources in the government said that participation of the private sector will be critical to make the exercise a success.
India, which has approved Rs 4,500 crore to Serum Institute of India and Bharat Biotech – the two vaccine manufacturers in the country at present for scaling up production, has also given it nod for emergency use of Russia made Sputnik V.
The Centre has also decided to fast-track approvals for other foreign-produced Covid-19 vaccines that have been granted emergency authorisation in other countries.
The Centre has also allowed the vaccine makers to sell up to 50 per cent to state governments and in open markets directly. The remaining 50 per cent will have to be directed to the central government.
While several experts have raised doubts over pricing and distribution through private procurement, Bajaj said that “every life vaccinated is a life saved.” He said that this will only enhance availability.
