Kolkata, August 12: Coal India Ltd. (CIL) and its subsidiary conduct various Corporate Social Responsibility (CSR) growth activities, following the current guidelines and provisions of the Companies Act, 2013. For FY 2019-20, Coal India and subsidiaries jointly used Rs. 194 Cr against the provisional budgetary of Rs 888.86 Crore, the annual report of the company reported.
The allocation of funds is made in accordance with CIL’s CSR strategy in which the higher of the two sums – 2 percent of the average net income for the three immediately preceding financial years OR Rs. 2.00 per ton of previous year’s coal output (CIL’s combined coal output for CIL (HQ)) is allocated for a particular financial year.
According to the DPE guidelines of 10.12.18, CSR spending on thematic projects, i.e. school education and healthcare, must be about 60 percent of overall CSR spending. In FY 18-19, CIL and its subsidiaries jointly invested approximately Rs. 278.29 crores on thematic programs, 67 percent of the year’s overall CSR spending.
Building a 300 bedded hospital in Godda, Jharkhand by CIL has been authorized. Building 500 bedded hospital and 100-seater medical college in Angul, Odisha by MCL is close to completion, the company said.
CIL has supported Odisha Power Transmission Corporation Ltd. (OPTCL) during cyclone Fani in May 2019 with Rs. 50.32 crores for the restoration of damaged power lines in Odisha.
