Tata Trust: Veteran businessman of the country Ratan Tata has announced the help of Rs 500 crore in the war against Coronavirus. Ratan Tata himself tweeted and informed about it on Saturday. He told that the Tata Trusts will provide Rs 500 crore help in the ‘war against Coronavirus‘.
The fund will be used to purchase safety equipment, respiratory systems, testing kits for health workers, develop modular treatment facilities for infected persons, training health workers, and the general public. Ratan Tata said, “Emergency resources are urgently needed to fight the Covid-19 crisis.”
The COVID 19 crisis is one of the toughest challenges we will face as a race. The Tata Trusts and the Tata group companies have in the past risen to the needs of the nation. At this moment, the need of the hour is greater than any other time. pic.twitter.com/y6jzHxUafMAdvertisement
— Ratan N. Tata (@RNTata2000) March 28, 2020
Tata tweeted, ‘The Covid-19 crisis is one of the toughest challenges our generation will face. Tata Trust and Tata Group companies have also come forward for the needs of the country in the past. This is needed most at this time. ‘ He said companies such as Tata Trusts, Tata Sons and Tata Group are working with local, global partners and the government in a battle against the coronavirus on a platform that will reach the bottom.
“We are very grateful and respectful to all those in the organization who have risked their lives to fight this epidemic,” Tata said in a statement. The government has recently allowed companies to raise funds under CSR in the war against Covid-19.
Indian companies spend around Rs 15,000 crore annually under CSR. As per the rule, companies with a net worth of Rs 500 crore or revenue of Rs 1000 crore or net profit of Rs 5 crore have to spend 2% of net profit under CSR. If they cannot do it, they have to give details of it.
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