Fac­ing cash crunch, state set to take CSR aid route

Hindustan Times ST (Mumbai) - HT Navi Mumbai Live - - FRONT PAGE - HT Correspondent ht­metro@hin­dus­tan­times.com

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.


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