Maharatna companies earmarked over `1,100 crore for corporate social responsibility (CSR) activities during April-September 2011, while Navratna firms allotted about `360 crore, Parliament was recently informed.
Maharatna companies -- NTPC, ONGC, SAIL, CIL and IOC -- have allocated funds over `1,100 crore for corporate social responsibility (CSR) during the first six months of the current fiscal, Minister for Heavy Industries and Public Enterprises Praful Patel said in a written reply to the Lok Sabha. There are 16 Navratna firms including BHEL, GAIl, NMDC, PFC and Oil India.
CSR is a company’s commitment to operate in an economically, socially and environmentally sustainable manner, while recognising the interests of its stakeholders.
In April 2010, the Department of Public Enterprises had issued CSR guidelines.
Under the norms, PSUs have to create mandatorily, through a resolution, a CSR budget from a specified percentage of their net profit of the previous year.
Maharatna companies -- NTPC, ONGC, SAIL, CIL and IOC -- have allocated funds over `1,100 crore for corporate social responsibility (CSR) during the first six months of the current fiscal, Minister for Heavy Industries and Public Enterprises Praful Patel said in a written reply to the Lok Sabha. There are 16 Navratna firms including BHEL, GAIl, NMDC, PFC and Oil India.
CSR is a company’s commitment to operate in an economically, socially and environmentally sustainable manner, while recognising the interests of its stakeholders.
In April 2010, the Department of Public Enterprises had issued CSR guidelines.
Under the norms, PSUs have to create mandatorily, through a resolution, a CSR budget from a specified percentage of their net profit of the previous year.
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