Coal India, its subsidiaries spend Rs 1,978 cr on CSR from FY17 to FY20

By: |
September 17, 2020 5:30 PM

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 financial year 2016-17, 2017-18, 2018-19 and 2019-20 respectively.

The collective spent of CIL along with its subsidiaries during the period stood at 1,977.76 crore over and above the collective statutory requirement of Rs 1,575.98 crore.The collective spent of CIL along with its subsidiaries during the period stood at 1,977.76 crore over and above the collective statutory requirement of Rs 1,575.98 crore.

State-owned CIL and its subsidiaries have spent a total amount of Rs 1,977.76 crore on Corporate Social Responsibility (CSR) during the last four financial years, according to 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 financial year 2016-17, 2017-18, 2018-19 and 2019-20 respectively.

“National Miner Coal India Ltd (CIL) spent a total amount of Rs 1,977.76 crore on CSR during FY16-17 and FY19-20,” Coal Minister Pralhad Joshi said in a written reply to the Lok Sabha on Wednesday.

The collective spent of CIL along with its subsidiaries during the period stood at 1,977.76 crore over and above the collective statutory requirement of Rs 1,575.98 crore.

Similarly, NLC (India) Ltd along with its subsidiary NTPL collectively spent Rs 213.75 crore on CSR during the same 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 certain turnover and profitability to spend a certain percentage of their average net profit on CSR for development of the areas and communities around its operations.

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