Defence Minister Rajnath Singh appeals for generous contribution to ‘Armed Forces Flag Day Fund’ during CSR Conclave in New Delhi
The Union Defence Minister Rajnath Singh has appealed to the nation to contribute generously to the Armed Forces Flag Day Fund. Addressing the 4th edition of the Armed Forces Flag Day CSR Conclave, organised by Department of Ex-Servicemen Welfare, Ministry of Defence, in New Delhi on 29 November 2022. He asked the corporates to donate fulfilling their Corporate Social Responsibility.
Armed Forces Flag Day
Every year 7 December has been observed as the Armed Forces Flag Day Fund since 1949. It is managed by the Department of Ex-Servicemen Welfare under the Ministry of Defence. It was set up by the government so that the public can contribute to this fund.
The fund is used by the Department of Ex-Servicemen Welfare for the welfare and rehabilitation of war widows, wards of martyred soldiers and Ex-Servicemen, including disabled ones by providing financial assistance for their identified personal needs such as penury grant, children’s education grant, funeral grant, medical grant and orphan/disabled children grant.
Corporate Social Responsibility (CSR)
Under CSR certain public or private sector companies have to spend a minimum 2% of the average net profits made during the 3 immediately preceding financial years on certain sectors identified by the government.
CSR funds are spent on measures for the benefit of armed forces veterans, war widows and their dependents, community development programmes related to safe drinking water, education, conservation of natural resources, setting up of orphanages, old age homes etc.
It was implemented on 1 April 2004 under the Companies Act 2003.
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