CSR: NMDC spends Cr287 on social development in FY 2021-22

The NMDC’s CSR is carried out in remote and remote areas and faces serious public order problems due to left-wing extremism.


By Rusen Kumar

New Delhi (CSR India): The amount spent during the year on CSR activities by NMDC Limited, a state-run mining PSU, was Rs. 287.33 crores or 3.06% of current year (CY) profits of FY 2021-22 (prior year Rs. 158.62 crore).

The corporate social responsibility (CSR) gross amount to be spent during the year was Rs. 148.15 crores, 2% of the average PBT for the past three years of Rs. 7407.49 crores, (Previous year Rs 130.00 crores (2% of the average of the last three years PBT Rs. 6499.95 crores).

NMDC Ltd., a Navratna PSE under the Ministry of Steel, Govt. of India is the largest iron ore producer in India, owns and operates highly mechanized iron ore mines in Chhattisgarh and Karnataka.

CSR mechanism

The company said more than 75% of NMDC’s CSR activities are carried out in partnership with state authorities. These activities are undertaken on the basis of a detailed consultative process, which starts at the local level of the Panchayat and extends to the level of district administration and even to the Chief Secretary in the case of Chhattisgarh State. , where more than 80% of CSR activities are implemented.

The development works and activities have been carried out in accordance with the development plan of the relevant districts, according to the relevant state authorities, the company said. The NMDC has identified disadvantaged, vulnerable and marginalized stakeholders using community socio-demographic data through baseline surveys conducted as part of its CSR policy objectives and in consultation with government authorities. State.

CSR policy

The NMDC has a CSR Policy which addresses its objectives, focus areas, organizational mechanisms and guidelines for identifying CSR activities as well as implementation and monitoring strategies.

Its CSR policy addresses in detail the budget allocation, the approval methodology and the mechanism for the use of funds.

Main axes of projects

The main areas in which expenditures have been made are – improving the employment of professional skills, including skills upgrading, integrated development of drinking water catchment areas and promotion of sanitation Education – special education in primary schools with a particular focus on the districts in which NMDC projects are located.

The Company invests heavily in education, infrastructure development, health services and clean water, as well as imparting technical skill sets aimed at improving employability and income generation, etc., among other initiatives, mainly in the surrounding areas of its operations.

The CSR Council is chaired by the Chief Financial Officer.

(Rusen Kumar, Indian journalist, writes regularly on CSR and sustainability.)

Source:
India CSR I September 6, 2022

Joel C. Hicks