PK Foundation seeks inclusion of art-culture-literature under CSR

New Delhi [India], July 1 : In an appeal to Prime Minister Narendra Modi and his government, Chairman of PK Foundation Sundeep Bhutoria has asked for arts, culture and literature to be recognized as eligible for funds under the Corporate Social Responsibility (CSR) scheme.

The Foundation supports arts, culture, literature and those involved in it.

The sector covering arts and literature tend to suffer from a paucity of funds for its support. PK Foundation, on its part, helps the artists and authors to promote their work.

Over the years, the Foundation has been assisting authors and artists to spread their work not only in India but abroad.

Companies in India are expected to set aside a small proportion of their funds to be used for Corporate Social Responsibility - CSR.

The rules in Section 135 of the Companies Act 2013 make it mandatory for companies of a certain turnover and profitability to spend 2 per cent of their average net profit for the past three years on corporate social responsibility activities.

The government has defined various areas where these CSR funds can be used with proper proof of such usage. The scheme has helped many areas such as education, health with an additional support from CSR.

If the companies were to donate small amount towards growth of arts culture and literature it could go a long way in supporting India's art and culture.

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