Facing cash crunch, state set to take CSR aid route
MUMBAI: From running anganwadis ( nurseries) to building water conservation projects to supporting renewable energy initiatives, the Maharashtra government is looking at the Corporate Social Responsibility (CSR) route to fund its welfare projects.
Significantly, the move comes at a time when the state is facing a debt burden of more than Rs3.33 lakh crore and a cash crunch to finance its projects owing to shortfall in revenue; ballooning expenditure as a result of populist decisions such as shutting toll collection points and abolishing local body tax; and high spend on drought-relief measures.
The government on Friday organised a conference of lead- ing corporate houses and multinationals to attract CSR funds for some of its key initiatives such as Swachh Bharat Abhiyaan and projects in the fields of skill development, forests and renewable energy, among others.
CONTINUED ON P8