Power Minister RK Singh Launches POWERGRID Vishram Sadan In Bengaluru

Utkarsh Classes Last Updated 29-12-2023

Power Minister RK Singh Launches POWERGRID Vishram Sadan In Bengaluru

Place in News 4 min read

Union Power Minister RK Singh launched POWERGRID Vishram Sadan in Bengaluru on 28 December 2023. The Honorable Minister of Health and Family Welfare and Minister of Chemicals and Fertilizers Mansukh L Mandaviya were present through a virtual medium.

RK Singh appreciated the social welfare efforts being made by POWERGRID in the program. This Vishram Sadan of Power Grid will greatly benefit the poor people living in remote areas.
This 2-storey rest house, built at approximately Rs 23 crore, has 270 beds.
A total of 55 rooms in this building are equipped with all the necessary facilities. These rest homes can provide the maximum possible relief to the patients' attendants.

POWERGRID has built Vishram Sadan in many cities:

POWERGRID has established itself as a responsible corporate citizen for the benefit of the general public. POWERGRID has set up similar rest houses at AIIMS New Delhi, IGIMS Patna, DMCH Darbhanga, KGMU Lucknow, Guwahati and Vadodara.
Power Grid is also constructing similar rest houses in Ranchi and Jhansi.

Social and economic work being done by POWERGRID:

POWERGRID has been carrying out welfare work across the country with its CSR initiatives at a cost of approximately Rs 1000 crore. Under this:
- Rural development by contributing to economic and social welfare
- Education
- Health care
- Skill Development
- Environment
- Drinking Water
- Water conservation
- cleanliness

About Power Grid Corporation of India Limited (POWERGRID):

POWERGRID is a Schedule 'A', 'Maharatna' Public Sector Enterprise of the Government of India.
POWERGRID was established on October 23, 1989, by the Companies Act, 1956 provisions.
POWERGRID is a listed company in which the Government of India holds institutional investors and the public hold a 51.34% stake and the remaining stake.

About Corporate Social Responsibility (CSR):

CSR is defined as a management concept. Under CSR, companies integrate social and environmental concerns with their stakeholders, including business partners.
An ' Impact Assessment Study ' is an evaluation of the direct and indirect changes that CSR projects have on the target beneficiaries and their surrounding environment.
CSR in India is regulated under Section 135 of the Companies Act 2013.
India is the first country in the world to identify potential CSR activities, prepare a framework, and make CSR mandatory.
The provision of CSR applies to companies which:
- Net worth exceeds ₹ 500 crore or
- The total turnover is more than ₹1000 crore or
- Net profit should be more than ₹5 crore.
Under the Act, companies are mandated to establish a CSR committee to recommend a corporate social responsibility policy to the board of directors and monitor the same.
The Act encourages companies to spend 2% of the average of their net profits of the last three years on CSR activities.