Vedanta creates fund to combat Covid-19; to not cut salaries, fire staff

Anil Agarwal-led Vedanta Ltd has set up a Rs 100 crore fund as part of its endeavour to join hands with the Government of India to combat the widespread outbreak of Covid-19. The fund will cater to three specific areas – livelyhood of daily wage workers, employees and contract workers and preventive health care providing timely help to communities in and around various plant locations of the company.

"This fund is a first step on Vedanta’s behalf and we will increase the corpus if the need arises," the release quoted Anil Agarwal, Executive Chairman, Vedanta Resources as saying. As part of other measures, Vedanta will not cut salaries or fire any staff, including temporary workers during this crisis period, it said.

It has also decided to provide special, one time insurance to cover Vedanta’s employees and their families against Covid-19. Further, all mobile health vans in operational areas will aide in preventive healthcare and each business unit will contribute towards the livelihood of daily wage earners around plant locations like tea sellers and vegetable vendors.