CSR in India

SPV to tap CSR funds to run Amma Canteens in Tamil Nadu

SPV to tap CSR funds to run Amma Canteens in Tamil Nadu

SPV to tap CSR funds to run Amma Canteens in Tamil Nadu

CHENNAI: Feb 14 (IANS), A not-for-profit special purpose vehicle (SPV) which will tap the company social responsibility (CSR) contributions to finance and manage the Amma Unavagam/Canteen scheme, will be formed by the Tamil Nadu government, as state Deputy Chief Minister O. Panneerselvam said on Friday.

The SPV funds will be gained by CSR contributions from companies and other donations & Presenting the state allow 2020-21, Panneerselvam who also take care of the state finance portfolio, said that so as to fund the scheme on a sustainable basis and reduce the burden on the urban local bodies, an SPV is going to be formed to finance and manage the Amma Canteens.

The govt also will provide grants to the SPV to hide the shortfall between the expenditure incurred and therefore the revenue, contributions and donations received,” Panneerselvam said. As per the Budget Estimates 2020-21, a provision of Rs 100 crore has been made for this purpose.

The Amma Canteen scheme was launched in 2013 & is managed by urban local bodies.to supply food at very affordable rates – one idli at Re 1, a plate of curd rice at Rs 3, a plate of sambar rice at Rs 5, et al. – to the weaker sections of society. Panneerselvam also said the main target on construction workers, who are the most important clientele of Amma Canteens, are going to be sharpened by establishing mobile units to move food to figure sites.

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