Modi's Dream Projects To Get A Boost By Union Budget

BANGALORE: Prime Minster Modi’s dreams went a step closer to reality as the Finance Minister Arun Jaitley announced 100 percent tax exemption in CSR activities for Clean Ganga Fund and Swachh Bharat Kosh in his first Union Budget.

 “I have proposed 100 percent deduction for contributions, other than by way of corporate social responsibility (CSR) contributions, to the Swachh Bharat Kosh,” said the Finance Minister. He added that a similar provision is coming up for the Clean Ganga Fund, reports Yahoo Finance.

According o the Companies Act, the firms will have to shell 2 percent of the company’s net profit on CSR activities. Jaitley has proposed to levy cess on services at 2 percent which will soon come in effect. “Resources generated from this cess will be utilized for financing and promoting initiatives towards Swachh Bharat,” stated Jaitley. The corporate sector is being aimed at to draw funds by the Swachh Kosh project for advancing the Swachh Bharat Abhiyaan.

On the other hand, the Clean Ganga Fund would aid in taking up the cleaning initiative of the river Ganga. These two projects top the priority of the Modi government who is taking serious measures to spread the idea of cleanliness in the country.

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