Coal India, its subsidiaries spend Rs 1,978 cr on CSR from FY17 to FY20
Coal India, its subsidiaries spend Rs 1,978 cr on CSR from FY17 to FY20 – State-owned CIL and its subsidiaries have spent a complete amount of Rs 1,977.76 crore on Corporate Social Responsibility (CSR) during the last four financial years, consistent with official data.
Coal India Ltd (CIL) and its subsidiaries have collectively spent Rs 489.67 crore, Rs 483.78 crore, Rs 416.47 crore, Rs 587.84 crore in fiscal year 2016-17, 2017-18, 2018-19 and 2019-20 respectively.
“National Miner Coal India Ltd (CIL) spent a complete amount of Rs 1,977.76 crore on CSR during FY16-17 and FY19-20,” Coal Minister Pralhad Joshi said during a written reply to the Lok Sabha on Wednesday.
The collective spent of CIL along side its subsidiaries during the amount stood at 1,977.76 crore over and above the collective statutory requirement of Rs 1,575.98 crore.
Similarly, NLC (India) Ltd along side its subsidiary NTPL collectively spent Rs 213.75 crore on CSR during an equivalent period.
Out of this expenditure, NLC (India) Ltd spent Rs 205.9 crore, while its subsidiary NTPL spent Rs 7.85 crore.
Notably, the companies Act in India makes it mandatory for companies of a particular turnover and profitability to spend a particular percentage of their average net income on CSR for development of the areas and communities around its operations.
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