Coal India Ltd. (CIL) and its subsidiary companies are undertaking different developmental activities under Corporate Social Responsibility (CSR) following the latest DPE guidelines and provisions of the Companies Act, 2013. Coal India and subsidiaries collectively have utilised Rs. 194 Cr against budgetry provisoin of Rs 888.86 Crore in FY 2019-20, Company’s annual report revealed.
The allocation of funds is done as per the CSR policy of CIL under which the higher of the two amounts – 2% of the average net profit for the three immediately preceding financial years OR Rs. 2.00 per tonne of coal production of the previous year (consolidated coal production of CIL in case of CIL (HQ)) is allocated for a particular financial year.
As per DPE guidelines dated 10.12.18, CSR expenditure on thematic programmes i.e. school education and healthcare has to be around 60% of the total CSR expenditure. CIL and its subsidiaries have collectively spent Rs. 278.29 crores on thematic programmes in FY 18-19 which is approx. 67% of the total CSR expenditure of the year.
Construction of 300 bedded hospital at Godda, Jharkhand by CIL has been approved.Construction of 500 bedded hospital and 100 seater medical college at Angul, Odisha by MCL is nearing completion, the company said.
CIL has assisted Odisha Power Transmission Corporation Ltd. (OPTCL) with Rs. 50.32 crores for restoration of damaged electricity lines in Odisha during cyclone Fani in May 2019.