India's public sector steel companies will spend a whopping Rs 230 crore (Rs 2.30 billion) on corporate social responsibility to build 'Model Steel Villages' across the country during the current financial year.
Out of this the major contributions are from Steel Authority of India Limited (Rs.100 crore or Rs 1 billion), Rashtriya Ispat Nigam Limited (Rs.27 crore or Rs 270 million) and National Mineral Development Corporation (Rs.89 crore or Rs 890 million).
Secretary ministry of steel R S Pandey on Wednesday reviewed the progress of the social initiatives of steel companies under the ministry. He said the public sector companies should ensure implementation of the planned programmes in a time bound manner. He also asked the companies to give administrative and financial powers to streamline implementation.
Public sector units whose top executives attended the review meeting included SAIL, RINL, NMDC, MECON, MOIL, MTC, KIOCL, HSCL, BRL and FSNL.
Under the schemes, about 126 villages to be known as 'Model Steel Villages' will be