Investments in efforts to find Covid drugs to count as part of CSR responsibilities

This includes pharmaceutical, vaccine and medical device firms, which are expected to undertake research and development of new drugs, vaccines and medical devices as part of their regular business activities.

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On Monday, the city reported 2,077 fresh cases of Covid-19 and 32 deaths in the last 24 hours.

In a move to boost India’s efforts to find effective medicines and vaccines against Covid-19, the government is temporarily allowing investment towards such efforts to be considered as fulfillment of a company’s Corporate Social Responsibility (CSR) obligations.

This includes pharmaceutical, vaccine and medical device firms, which are expected to undertake research and development of new drugs, vaccines and medical devices as part of their regular business activities.

In fresh amendments to the Companies (Corporate Social Responsibility) Rules, 2014, the Ministry of Corporate Affairs has inserted a provision that would allow firms to claim CSR benefits for such activities until the 2022-2023 financial year.

For now, firms engaged in “research and development activity of new vaccine, drugs and medical devices in their normal course of business” will be eligible for CSR benefits for their R&D work related to such activities for Covid products, provided the work is “in collaboration with” any of the institutes or organisations mentioned in item (ix) of Schedule VII of the Companies Act, 2013. “Univs, labs should grasp these opportunities, set up collaborative programs for Covid-19 R&D, also get support for other areas,” tweeted Dr K VijayRaghavan, Principal Scientific Adviser to the government.

The RJD’s key face and Leader of the Opposition (LoP) Tejashwi Yadav, party supremo Lalu Yadav’s son, will again contest from his stronghold Raghopur.

Amid Mahagathbandhan crisis, RJD unveils list of 143, drops 36 MLAs, focuses on ‘M-Y’

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The RJD, lead player of the Mahagathbandhan, released its full list of 143 candidates for the November Bihar Assembly elections. Its key face Tejashwi Yadav will contest from Raghopur, and 41 sitting MLAs have been renominated. The party has dropped 36 sitting MLAs and fielded young leaders, signaling a bid to consolidate its core Muslim-Yadav vote base. The Congress has fielded 60 candidates.

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