The Power Grid Corporation approved 152 Corporate Social Responsibility projects worth Rs. 420.83 crore in the financial year 2021-22.
NEW DELHI: As Indiaโs largest Electric Power Transmission Utility, Power Grid Corporation of India Limited undertakes several CSR initiatives aimed at social and economic development of areas and communities. Through these initiatives, the company impacted the lives of millions of people by promoting inclusive growth and addressing the basic needs of under privileged and weaker sections of society.
CSR Fund
During FY 2021-22, the Company has spent Rs. 271.14 crore (i.e., 2.11% of average net profits of the Company for last three financial years) (2019-20 Rs.247.22 crore) exceeding the CSR budget of Rs. 257.07 crore. Further, 152 new CSR projects of Rs. 420.83 crore were sanctioned during FY 2021-22.
Addressing marginalized communities
Due to the Companyโs nature of business in remote areas of India, its CSR activities generally benefit the rural population and marginalized communities.
Contribution to PM CARES Fund
During the year, the Company also contributed Rs. 75 crores to PM CARES Fund towards COVID-19 pandemic.
Area of work
The Company undertakes CSR activities in areas of healthcare, drinking water & sanitation, education, skill development, rural development and infrastructure like roads, community centers etc. These projects are conceived in consultation with the stakeholders, primarily in the vicinity of its area of operations.
Major CSR Projects in 2021-22
Significant Corporate Social Responsibility initiatives carried out in the financial year 2021-22:
- Assistance in COVID-19 vaccination programme through procurement of cold chain equipment for the states of Punjab, Mizoram, Sikkim and UT of Ladakh.
- Financial assistance for construction of Nuclear Medicine Theranostics facility for patients undergoing Radioisotope Treatment at TMC/ACTREC for cancer patients at TATA memorial hospital, Mumbai.
- Financial support for Tata Memorial Centre (TMC) for developing Modular Operation Theatres at women and child hospital, ACTREC campus, TMC, Navi Mumbai.
- Financial assistance for Installation and Operationalization of 480 Smart classrooms in 240 Government Schools in 12 Districts of Haryana.
- Installation of 2×50 NM3/Hr Capacity oxygen generation plant in Gurugram.
- Financial assistance to National Foundation for Communal Harmony for education of 1632 violence affected students from Assam, Manipur and Chhattisgarh.
- Financial Assistance for procurement of 10 Neonatal Ventilators and 10 ABG Machines for District Hospitals at Mewat, Faridabad and Gurugram.
- Setting up of ITI, Shergarh, Jodhpur.
- Supply & installation of 3,250 solar LED streetlights in Himachal Pradesh.
- Construction of Schedule Castes Senior Girls Hostel (50-Seater) at Tehsil Sarai in Singrauli district.
CSR projects sanctioned during FY 2021-22
- Funding โPOWERGRID Endowment Scholarshipโ Merit-Cum-Means (MCM) Scholarship Programme for B.Tech students of Indian Institute of Technology, Madras (IITM).
- Establishment of POWERGRID Gyan Kendra (PGK) by renovation and upgradation of Shaskiya Barmendra Jila Pustaklaya, Nagod, District Satna Madhya Pradesh.
- Establishment of 100 bedded Paediatric Intensive Care Unit (PICU) at GSVM Medical College, Kanpur.
- Supply of Medical equipment to Swami Ramanand Theerth Rural Government Medical College (SRTRGMC), Ambajogai, Beed district, Maharashtra.
- Providing Medical Equipment and Instruments to the various Government health facilities in the State of Sikkim.
- Financial Assistance for Construction of 100 Bedded District Hospital at Serchhip District in Mizoram, etc.
Corporate Social Responsibility (CSR) Initiatives approach
CSR activities of Power Grid are focused on initiatives that promote inclusive growth and address the basic needs of the under privileged and weaker sections of society. The organization addresses the issues of Community Development with thrust on Healthcare, Promoting Education, Drinking Water & Sanitation, Skill development, Infrastructure creation for Rural Development, Environmental Sustainability, Disaster Management, etc. primarily in and around its areas of operations.
A large number of women, girls, SC/ST/Minority, poor & marginalized section of the population were benefitted as a result of CSR initiatives. Various CSR initiatives such as improvement in facilities at public healthcare / educational institutions, Scholarship / financial assistance to the deprived students, etc. had been undertaken for improving the quality of life of the less privileged population. Besides, a large number of projects involving infrastructure development in rural areas like Construction of Vishram Sadans in Govt. Hospitals, construction of classrooms/community centers/ toilets in school, providing schools furniture, operationalization of smart classes, Installation of solar streetlights, creating sanitation and drinking water facilities, construction/renovation of roads, etc. have been undertaken.
In addition, the Company continues to undertake several Skill Development initiatives under CSR by imparting livelihood-oriented skill development training through various Government agencies.
CSR Committee
Power Grid has constituted a CSR Committee in line with the requirements of the Act and Department of Public Enterprisesโ Guidelines on Corporate Social Responsibility and Sustainability for Central Public Sector Enterprises. Seven meetings of the CSR Committee were held during the FY 2021-22.
CSR Policy
CSR Policy of the Company was approved by the Board of Directors in its 307th meeting held on 11th November 2014 and was modified in its 323rd meeting held on 30th November 2015. Major changes were incorporated in the Name of the Policy, inclusion of Vision and Mission Statements, defining local area and communication strategy.
Corporate Social Responsibility (CSR) Expenses
As per Section 135 of the Companies Act, 2013 along with Companies (Corporate Social Responsibility Policy) Rules, 2014 read with DPE guidelines no F.No.15 (13)/2013-DPE (GM), the Company is required to spend, in every financial year, at least two per cent of the average net profits of the Company made during the three immediately preceding financial years in accordance with its CSR Policy.
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