Major strides by Steel Ministry PSUs on CSR
The renewed thrust given by the Ministry of Steel on Corporate Social Responsibility (CSR) by its PSUs since a year back was reviewed on 16th. April 2008 by Shri RS Pandey, Secretary (Steel), MoS in a meeting with the CMDs of all the 11 PSUs under the Ministry. The highlights of the CSR activities were:-
* Last year the Ministry had advised its PSUs to spend not less than 2% of their profits on CSR. In a unique initiative, CSR targets were also made part of MOUs signed by the Ministry with its PSUs.
* A budget of around Rs. 230 crores, amounting to over 2% of the net profits of the PSUs, had been allocated for 2007-08 by the 11 PSUs; (SAIL Rs.100 crore; NMDC Rs. 89 crore; RINL Rs. 34 crore; MOIL Rs. 3 crore; MSTC Rs. 1.18 crore; KIOCL Rs. 2 crore; BRL Rs. 13 lakh; FSNL Rs. 6 lakh; MECON Rs. 20.90 lakh; SIIL Rs. 5 lakh). 8 PSUs could spend their entire allocated funds fully. During 2007-08, SAIL incurred an expenditure of around Rs. 112 crore on CSR as against Rs. 20 crores in 2006-07.
* In respect of the rest three PSUs- RINL, MSTC & NMDC, the funds budgeted for, have been earmarked for spending and related works are in various stages of progress. Moreover, mechanisms have been put in place to avoid lapse of earmarked funds.
* 126 Steel Villages were identified for adoption by the PSUs and these are to be developed in a phased manner by the PSUs- SAIL(79), NMDC(40), RINL(5) and MOIL(2) in a three year time frame. The steel villages are spread over states mostly near the location of PSUs. Major activities including development of infrastructure, construction of roads, culverts, water tanks, drains along the roads; electrification mainly by solar lights; improvement of environment through tree plantation and promotion of agri-livelihood through sustainable income generation schemes such as teak plantation, poultry farming, water harvesting, vermiculture etc. have been taken up. 13 villages were developed by SAIL during the year 2007-08 and 46 identified for development in 2008-09; 5 villages were taken up by MOIL for adoption as model villages.
* Against a target of organizing about 150 medical/health camps in which health check ups, pathological lab treatment, medicines, post operative check-ups, immunization, etc. were provided by the PSUs; SAIL alone could organize more than 400 medical camps in 12 States (Bihar, Jharkhand, Chhatisgarh, Orissa, West Bengal, Tamil Nadu, Karnataka, Maharashtra, Madhya Pradesh, Haryana, Rajasthan and Himachal Pradesh) benefiting about 5 lakh persons. The other PSUs – KIOCL, SIIL, MOIL, NMDC, MECON and RINL also organized similar medical camps benefiting a large number of people in the peripheral areas of their mines/plants.
* In view of the calamity brought in by the floods in Uttar Pradesh, Bihar and Assam, SAIL, NMDC and RINL organized immediate relief measures in these affected states and contributed Rs. 5 crore, Rs. 4 crore and Rs. 2 crore respectively towards the flood relief measures.
* The PSUs also contributed by way of scholarships to deserving SC/ST undergraduate engineering students, adoption of tribal children to provide free education, construction/renovation of school buildings, free uniforms and textbooks.
* Some of the innovative projects taken up under the CSR umbrella include – a project Jaladhara was taken up by SAIL in Visakhapatnam Dist. whereby drinking water was provided to the villages through pipeline, by which the trekking distance of nearly 2.5 kms. for collecting water was reduced; Grameen Prusti Yojana of NMDC for distribution of fortified food to tribal children, adolescent girls and women in the entire Dantewara Dist. from all the 1214 Anganwadi Centres.
* An ITI set up by SAIL at Gua mines was inaugurated on 13/09/2007 by Hon’ble Chief Minister of Jharkhand in September’07. Classes in two streams have started from December’07.
* In order to provide impetus to sports, Archery Academy has been set up at Kiriburu Mines, Jharkhand by SAIL for tribal students.
* Special School started exclusively for poor, underprivileged children at five integrated steel plant locations – Bhilai, Durgapur, Rourkela, Bokaro and Burnpur. The facilities provided include free education, mid-day meals, uniform including shoes, text books, stationary items, school bag, water bottles and transportation in some cases.
* The PSUs have taken the help of reputed organizations and NGOs and have also worked in close contact with the District Administration while carrying out CSR activities.
During the review meeting, which led to mutual sharing of experiences; the Steel Ministry PSUs also stated that they would consolidate the experiences gained and lessons learned; maintain the budgetary allocations for CSR for 2008-09 at not less than 2% of the net profit. The Ministry advised the PSUs to undertake a benefit analysis and impact of the CSR programmes conducted during the year 2007-08 for better focus in the ensuing year 2008-09. During the meeting, the PSUs also mentioned that they have finalized road maps for carrying the way forward for 2008-09 and maintaining the momentum on CSR activities. It was decided that to enhance the experience sharing amongst the PSUs, a compendium on the CSR activities undertaken by the PSUs is to be brought out shortly.
Sourced From: SAIL
Tags: calls, daytrading, free calls, intraday, tips
Similar Posts:
Latest Query
- by Sam
Search Our Archives
Research Desk
- Stocks Trading above their 50 day moving average - DMA In Stock Research
- Download free Ebooks based on Technical Analysis In Personal Training
- TOP 100 Stocks with the Highest P/E as on July 14th, 2013 In Stock Research
- TOP 100 Stocks with the Lowest P/E as on July 14th, 2013 In Stock Research
- Charting Pathsala - Your guide to Techincals In Technical Analysis