FedEx Express, the world’s largest express transportation company, announced a long-term investment of more than ...
Indian Oil spends Rs. 490.60 cr on CSR during 2018-19
Indian Oil Corporation Ltd (IOCL) spent Rs. 490.60 crore on various CSR activities thereby achieving 100% budget utilisation during FY 2018-19.
The thrust areas under CSR include healthare and sanitation, education and employment-enhancing vocational skills, empowerment of women and socially & economically backward groups.
The company undertook CSR activities in Leh, Jammu &Kashmir, Northern states, North Eastern states, the aspirational backward districts and naxal affected areas.
Argyam, the flagship CSR scheme was launched in 2018-19, in which 12 Mobile medical units, each consists, a doctor, nurse, nursing attendant and driver cum community mobiliser who have been operating in Mathura, Uttar Pradesh, Bangaigaon, Assam and Paradip, Odisha.
The MMU covers more than 140 villages in the catchment areas of 3 refinery units with 90,000 foot fall of the patients.
During 2018-19, IndianOil bagged an award among Public Sector Undertakings (PSUs) during Haryana CSR Summit-2018 organised by the Government of Haryana.
The award was bestowed on IndianOil for its various CSR initiatives undertaken in Haryana in FY 2017-18 (Apr-Mar).
The company also started working towards skilled manpower operation in 2 trades viz. Industrial Electrician & Welder.
However, with increasing demand of skilled manpower, 6 new courses were added viz. Computer Data Application (only for girls), Fitter Fabrication, Instrumentation Technician, Pipe Fitter (City gas Distribution), Solar PV Installation and LPG Mechanic.
About 240 students per batch are being skilled in 8 trade courses, which are of 3 to 6 months duration each.
Since inception, 810 unprivilaged youth were skilled and certified with the provision of over 85% placements.
The President of India laid the foundation of the permanent campus which will be a mega world class model skill academy, to be setup with technical support from National Skill Development Corporation (NSDC).
Around 3,000 to 4,000 youth will be trained every year in 16 regular trades pertaining to the hydrocarbon sector and local industries, once functional.
The Companies Act 2013 mandates every company to fulfill Corporate Social responsibility.
Section 135 of the Companies Act provides the threshold limit for applicability of the CSR to a company with net worth of the company to be Rs 500 crore or more, turnover of the company to be Rs 1000 crore or more, net profit of the company to be Rs 5 crore or more.
Further as per the CSR Rules, the provisions of CSR are not only applicable to Indian companies, but also applicable to branch and project offices of a foreign company in India.
IOCL has a long standing CSR legacy, which started much before the CSR legislation, Companies Act, 2013, came into force.
IOCL undertakes projects mostly for improving the quality of life in various communities, which invariably include marginalized and underprivileged sections of the society, viz. schedule caste, schedule tribe, other backward caste physically handicapped.