India is preparing for a more relaxed Lockdown 4.0 to get its economic activities back on track with wide-ranging fiscal measures and infusions for survival-revival-growth. But even as we prepare for economic survival, revival and growth, let's be mindful that the threat of COVID-19 is still out there and we can’t be lax. Much needs to be done for the society beyond economic issues to get life rolling again.
With COVID-19 disease classified as a notified disaster in mid-March, subsequently the Ministry of Corporate Affairs had also notified that funds spent by a corporation to deal with COVID-19 issues will be counted as CSR activity. There can, therefore, be no better time for corporates to continue aiding governments and individuals as well as help alleviate the heart-wrenching devastation from a health catastrophe and a financial crisis rolled into one.
Reduced consumer spending has impacted all businesses with loss in revenue reinforcing fears of recession and enterprises are having begun down-sizing, adding to the people's woes. Downsizing should not be the only option for businesses. Loss of livelihood weighs heavy on the minds of the affected and their families, leading to a social restlessness and sense of hopelessness. Instead, the corporate world should streamline their policies and businesses in ways where they can retain the workforce and support them during this crisis. Larger corporates can also pool their resources together to help smaller businesses with lesser liquidity.
We need to understand that the pandemic has caused an emotional upheaval in people's lives in many unprecedented ways. It is not easy to remain confined within walls, cope with erratic work hours in case of work-from-home set-ups, work-out finances to suit critical needs or have no work at all in case of contractual workers. Companies need to empathetically chalk out plans recognising their social responsibilities and execute them in manners that support all levels of staff, not only economical but also emotionally. In fact, the lockdown period calls for an entirely new kind of forward-looking psychological support and counselling for those undergoing mental stress.
The Government has announced a relief package of over Rs 20 lakh crore for economic revival, though the proportion of social budgeting in terms of benefits to the healthcare sector is still to be seen. The CSR activities should continue to fill the gaps in the healthcare sector by offering funds for preventive healthcare, disaster management or sanitation. Old-age homes and orphanages that lack the resources and house the most susceptible sections of society, need all the support they can get.
The PPE kits are being manufactured in India now, but the supplies are still to keep up with the demands. Corporates should continue to connect with various Government and private hospitals and offer such protective equipment to healthcare professionals on priority. There is still an urgent need for lakhs of hazmat suits, gloves, N-95 masks and other kinds of face masks.In addition, while reinforcing the need for cleanliness, hygiene, hand wash, sanitisation, we need to ensure uninterrupted access to such basic necessities to all sections of society for the foreseeable future.
Providing food and other basic amenities to the unemployed migrant and daily wage earners continues to be a mammoth task for the authorities. Corporates must pitch in to lessen the plight of these communities. This is a time to re-build businesses, yes, but this is also a time for them to keep their helping hand extended to curtail the effects of COVID-19. It will not just ease the mounting pressure on many but will also save precious lives and may prevent someone's world from crumbling.
The writer is Akanksha Sharma, CSR & Sustainability Head, Sterlite Technologies Limited