The Swachh Bharat Kosh (SBK) was set up in 2014 to attract funds from the corporate sector, individuals and philanthropists.
Since then, funds have been pouring in the ‘kosh’ from corporates under the Corporate Social Responsibility (CSR) tag. Under the Companies Act, certain profitable companies are required to spend at least 2% of their three-year annual average net profit towards CSR works in a year.
Under this, companies spent nearly Rs 476 crore towards the SBK as part of their CSR in two years. Also, companies spent Rs 21 crore towards Clean Ganga Fund in 2014-15 and 2015-16.
As per an assessment of 5,097 firms, these companies spent Rs 355 crore in 2015-16 towards SBK. In 2014-15, a total of 7,334 companies spent Rs 121 crore towards such activities.
These funds were used in multiple cleanliness drives and building infrastructure.
Also, the SBK received Rs 97.47 crore and in 2017 till November.
In 2014-2015, the government has released Rs 86.09 crore, in 2015-2016, Rs 272.80 crore, in 2016-2017, Rs 136.42 crore and in 2017-2018 (till November 30, 2017) Rs 138.67 crore.
Donations to the SBK, other than the sums spent for CSR under sub-section (5) of Section 135 of the Companies Act, 2013 are eligible for 100% deduction under section 80G of the Income-tax Act, 1961. This is applicable to the assessment year 2015-16 and subsequent years.
A State Bank of India account was opened to channel the SBK funds. The contributions can be made through net banking or by debit/credit cards or cheque.
When a person donates, she/he receives an automatic message with a digitally signed receipt and acknowledgement of the contribution on mobile number or e-mail id.