With the rising number of COVID-19 cases, our country is gearing up to contain the novel coronavirus, before it takes a turn for the worse.?
Various Indian entrepreneurs have contributed to help medical authorities be prepared to take down COVID-19, and now Wipro¡¯s Azim Premji has joined the list.
Azim Premji has pledged Rs 1125 crores towards efforts against COVID-19. These?resources will be focussed on helping the medical and service fraternity who are currently in the frontline of the battle against the pandemic and in trying to lower the impact, especially on economically backwards class.
The foundation will be taking an in-depth approach on-the-ground response in specific?locations, focussing on immediate humanitarian aid and improving healthcare?capacity, including containing the COVID-19 outbreak and treating those affected by it.
These responses will be in tandem with government institutions and would be executed by the Azim Premji Foundation¡¯s 1600-person team, in collaboration with many of its over 350 strong civil society partners.
They will also make the most of the technical expertise, sourcing systems, infrastructure, and distribution reach of Wipro.Out of Rs 1125 crore, Wipro Ltd is committing Rs 100 crore, Wipro Enterprises Ltd is committing Rs 25 crore, and the Azim Premji Foundation is contributing Rs 1000 crore.?
These amounts are in addition to the annual CSR activities that are conducted at Wipro, and the usual philanthropic contributions Azim Premji Foundation normally makes.
Recently, a lot of news was circulating about donations made by Azim Premji amounting to around Rs 50,000 crores. However, that wasn¡¯t recent news. Wipro clarified last week that news reports and social media posts of Founder Azim Premji donating Rs 50,000 crore are misleading as the charitable contribution was made in March 2019.?
The ex-chairman of Wipro had kept 34 percent of his shares -- worth Rs 52,750 crore to be donated under the Azim Premji Foundation. The donation was made by the philanthropist in mid-March 2019, making him one of the biggest philanthropists in India¡¯s history. The 74-year-old earlier has donated money for charitable causes wholeheartedly that include Wipro shares and other assets owned by him.
Many philanthropists who make donations, tend to make them to their own foundations -- The Murthy¡¯s contributed to the Infosys Foundation, Bill Gates contributes to the Bill & Melinda Gates Foundation, etc.?
And somewhere it makes sense, as you¡¯re giving thousands of crores, you want it to be used appropriately and responsibly. However, many also feel that this is just done to evade massive taxes. And since the money is still in their hands, they can direct it the way they want.
What do you feel about this? Do you think contributing to the cause through their own foundations is unethical? Let us know in the comments below.