Tannuka Juneja
In the Financial year 2021-22, Tata Steel contributed Rs 406 crores towards its CSR expenditure and development programs to reach around 2.87 million beneficiaries.
The company continued its development work in the field of health, education, livelihood and access to clean water. Health infrastructure at multiple locations was also revamped to provide improved healthcare.
“During the year ended March 31, 2022, in respect of CSR activities revenue expenditure incurred by the Company amounted to Rs. 405.97 crores [Rs. 398.11 crore has been paid in cash and Rs. 7.86 crore is yet to be paid].”, the company said.
Under the Companies Act 2013, Tata Steel was required to spend Rs 266.57 crore (2020-21: 189.85 crore) for its Corporate social responsibility initiatives. During the year ended March 31, 2022, the amount approved by the Tata Steel Board was Rs. 526.00 crores (2020-21: Rs. 270.17 crores).
No amount was unspent for the year ended March 31, 2022, and the Company does not propose to carry forward any amount spent beyond the statutory requirement.
During the year ended March 31, 2021, revenue expenditure incurred by the Company amounted to Rs. 229.97 crores [Rs. 225.22 crore has been paid in cash and Rs. 4.75 crore was yet to be paid], which included Rs. 87.34 crores spent on ongoing projects. There was no amount unspent for the year ended March 31, 2021.
During the year ended March 31, 2022, the amount spent on CSR activities through related parties was Rs. 309.42 crores.
