Significant Contributions to Education, Healthcare, and Sports.
NEW DELHI (India CSR): The Steel Authority of India Limited (SAIL) has made significant contributions to Corporate Social Responsibility (CSR) initiatives in the West Singhbhum district under the Singhbhum Parliamentary Constituency (ST) over the past five years. With a total CSR expenditure of Rs. 37.65 crores, SAIL’s investments span a wide range of sectors, reflecting the company’s commitment to community development as mandated under Schedule VII of the Companies Act, 2013.
Education and Healthcare Lead CSR Expenditure
SAIL has allocated a substantial Rs. 18.06 crores to education, funding initiatives aimed at improving literacy rates and the quality of education. Healthcare follows closely, with Rs. 8.02 crores invested in enhancing medical facilities and services, ensuring better health outcomes for the local population.
Promoting Sports and Skill Development
In an effort to promote sports and encourage youth participation, SAIL has invested Rs. 4.39 crores in developing sports infrastructure and programs. Additionally, Rs. 2.32 crores have been directed towards livelihood generation and skill development, empowering individuals with the necessary skills to secure employment and improve their economic status.
Administrative Overheads and Rural Development
A sum of Rs. 1.52 crores has been dedicated to capacity building, covering administrative overheads essential for the effective implementation and monitoring of CSR projects. Rural development initiatives have seen an investment of Rs. 1.35 crores, aimed at improving living standards and infrastructure in rural areas of West Singhbhum.
Focus on Women Empowerment and Environmental Sustainability
SAIL has allocated Rs. 1.01 crores towards women empowerment initiatives, enhancing the socio-economic status of women through various programs. Environmental sustainability projects have received Rs. 0.33 crores, promoting sustainable practices and preserving the environment.
Additional CSR Initiatives
Other notable expenditures include Rs. 0.21 crores for social security programs benefiting senior citizens and persons with disabilities, Rs. 0.15 crores for drinking water projects ensuring access to clean water, and Rs. 0.12 crores for promoting art and culture. Furthermore, Rs. 0.10 crores have been set aside for project identification to ensure the relevance and impact of CSR activities, and Rs. 0.07 crores for sanitation projects aimed at improving hygiene and public health.
Compliance and Total Expenditure
The total CSR expenditure by SAIL in the West Singhbhum district amounts to Rs. 37.65 crores over the last five years. This includes funds transferred to the unspent CSR account in 2022-23 and 2023-24, as required under Section 135(6) of the Companies Act, 2013.
(India CSR)
