Coal India Ltd (CIL) is committed to CSR activities and has spent Rs 5,570 Crore on CSR during the last decade on pan India basis, much of it focused on health and education, said P M Prasad, Chairman of CIL.
Representative Image (ANI)
Coal India Ltd (CIL) is committed to CSR activities and has spent Rs 5,570 Crore on CSR during the last decade on pan India basis, much of it focused on health and education, said P M Prasad, Chairman of CIL.
Speaking at the inauguration of the 3rd CIL CSR Conclave 2024 on Sunday in Kolkata, Prasad said, out of the total CSR spend of Rs 5,579 Crore, health care, education and livelihood accounted for 71per cent at Rs 3,978 Crore.
Advertisement
Healthcare topped with Rs 2,770 Crore at close to 50 per cent of the total outlay while education and livelihood comprised Rs 1,208 Crore, over one-fifth of the total.
Advertisement
The remaining amount was spread across rural development, and other themes like environmental sustainability, promotion of sports, disaster management etc, he said.
Further, he said 95 per cent of CSR funds were utilised in eight operational states, with a focus on Odisha, Chhattisgarh, Jharkhand, Madhya Pradesh, and Maharashtra.
The CSR spend of Rs 5,579 Crore in a decade is higher by 31 per cent than the statutory requirement, and CIL is among the top three corporates of the country in CSR spend.
As per the information shared by the Ministry of Coal, beginning FY 2015, the first year of statutorily mandated CSR, in a ten year span till FY 2024 CIL was mandated to spend Rs 4,265 Crore but the company was ahead of it by Rs 1,314 Crore.
The annual average CSR spend was Rs 558 crore during this period.
Speaking at the event, West Bengal Governor C V Ananda Bose underscored the transformative power of CSR initiatives in improving the lives of communities, particularly in tribal belts of coal-bearing areas.
He lauded CIL’s contributions, including its efforts to support cancer patients, stating that such initiatives contribute to the holistic development of the nation.
“CSR initiatives are a powerful tool to transform lives, especially in vulnerable regions,” Bose said.
Vikram Dev Dutt, Secretary, Ministry of Coal said CSR is an article of faith for CIL and its subsidiaries and beginning January there would be theme-based CSR every month.
Advertisement
