Role of Neyveli Lignite Corporation India Limited (NLCIL), Neyveli towards Corporate Social Responsibility (CSR) in India-An Overview

Abstract

             In a developing country like India, CSR was seen as a part of Corporate Philanthropy. Due to changing business scenario and after the amendment of the Companies Act 2013, CSR has changed from Philanthropy to being socially responsible to multi-stakeholders. Nowadays corporate entities cannot survive without fulfilling its obligations towards society or social welfare also known as CSR. The term CSR is a social responsibility of business towards its various stakeholders. In India the main contribution of CSR is met by Public Sector Undertakings (PSUs). These PSUs were spending CSR amount as per the Ministry of Heavy Industries and Public Enterprises-CSR guidelines issued in 2010. As per the norms of the Companies Act 2013, Indian Public Sector Units have to spend mandatory 2% of their average last three years profits on CSR initiatives for the welfare of the social communities and also for the protection of natural environment. NLCIL, Neyveli a public sector organization also comes under this CSR mandate and of course is doing CSR projects for the welfare of the communities living in and around its operational area since its inception. This paper mainly aimed to study the contribution and CSR initiatives of Neyveli Lignite Corporation India Limited, Neyveli for the upliftment of the underprivileged society and also for the sustainability of environment in its operating unit from the year 2014-15 to 2020-21. An attempt is also made by the researcher to highlight the CSR policy of the NLCIL,Neyveli that is based on the Tripple-Bottom-Line Approach which creates positive impact on People, Planet and profits. The study uses secondary data for evaluating the CSR projects of NLCIL and is collected from the NLCIL websites, Annual Reports, Published Articles and so on. Percentage analysis has been used for the derivation of the final results.