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ONGC

ONGC

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Published by Anisa_Rao
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Published by: Anisa_Rao on Aug 26, 2011
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08/26/2011

 
CSR of Big Companies
(Case on ONGC)
By-Prerna SharmaRoll Number  58PG-AONGC, a major Public Ltd. company, is one of the largest companies in India. This case deals with thecompany's Corporate Social Responsibility (CSR) programsandinitiatives. It emphasizes on the increasingsignificance of CSR even in developing countries like India.
 
In May 2006, ONGC Ltd. (ONGC) received the 'Golden Jubilee Award for Corporate Social Responsibility inEmerging Economies - 2006', at the 7th International Conference on Corporate Governance organized bythe World Council for Corporate Governance. Since the verybeginning, ONGC has regularly contributed tovarious CSR initiatives in the areas of health, education, infrastructure, and culture. In 2003, it decided toallocate 0.75% of its net profit each year for different socio-economic developmental programsundertaken by the company. In 2004, it drafted a Corporate Citizenship Policy - a written guideline whichwas to provide a direction to the company's CSR initiatives.ONGC made an attempt to amalgamate its CSR which aims towards vocational education, hygiene anddevelopment of self-employment mechanism through
PURA
. A multi agency initiative comprising of thenon-Government organization, banks and the industry was formed under ONGC PURA Trust.Objective of the project includedProviding urban amenities in rural areas (PURA) which was actually thevision of Dr. A P J Abdul KalamAkhtar, which he outlined in his speech to the Parliament on the eve of Budget Session on 17th February, 2003. PURA visualizes bridging the rural-urban gap and achieving abalance socio-economic development. Project is conceptualized to make possiblethe formation of self-help groups in local and rural population, especially in poor and socially backward people. This was statedas an integral component of ONGCs Corporate Social Responsibility (CSR).
 
 
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ONGC launched PURA project on 18
th
April 2005at Maichara of East KalabariaPanchayat in Belonia Sub-Division of SouthTripura District. The Projectinvolved following 4 components:a) BijliGhar- Power Generationb) RandhanSeva - Community Kitchenc) Gyan Kendra - Library & Computer Centred) SamajShibir- Community Hall A preliminary assessment was done by IISWBM for ONGCs PURA Trust to monitor progress and receivefeedback of this project.Presently, ONGC has invited a North East based NGO, RGVN, to study in detailthe projects and initiatives that further be taken up tofacilitate ONGC to fulfill its commitment towardsPURA at Tripura.ONGC had formed PURA Trust with capital investment of Rs.10 Crores. Apart from that,ONGC has spent about Rs.10 lacs in the area of Maichara.

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