State-owned navratna company Coal India Ltd (CIL) will invest Rs 300 crore this fiscal on social and environmental causes.
"CIL is likely to spend around Rs 300 crore on the new CSR policy in the current fiscal. Earlier, the company had earmarked Rs one per tonne of coal produced," CIL chairman Partha S Bhattacharyya said.
CIL has identified Corporate Social Responsibility (CSR)--contribution of corporates towards pressing social and ecological causes--as one of its thrust areas this fiscal.
The new CSR policy adopted by the company will allow CIL’s CSR activities a wider reach as the company can now undertake such activities within 15 km from the mine instead of 8 km earlier, he said.
Besides, CIL can now undertake welfare activities anywhere in the country, he said.
The company posted a net profit of Rs 8,312 crore during 2009-10.