The NFCSR conducted a peer review study of CSR practices for Gas Authority of India Limited (GAIL). Using secondary research, IICA analyzed the practices of Oil and Natural Gas Corporation ONGC), Indian Oil Corporation Limited (IOCL), Bharat Petroleum Corporation Limited (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL). The study sought to identify and describe patterns in the companies’ CSR practices, such as how the companies approach CSR policy and strategy, project development and implementation, monitoring and evaluation, and other elements; trends in thematic and geographic expenditures; approaches to spending, administration, and application of tax; and the impact of CSR on corporate financial performance. Based on these findings, IICA prepared a Summary Action Plan of conclusions and recommendations to help GAIL (and other CPSEs) can improve and scale up CSR interventions

How CPSEs identify, prioritize, develop, implement, monitor, and report on CSR initiatives, and how these practices affect socio-economic development as well as company financial performance, is not particularly well known. This is especially so in the case of Maharatna companies, which, due to their size, have the potential to generate significant economic and social impacts via CSR. IICA’s peer review consists of a critical study on CSR activities of Maharatna companies in India, conducted with an aim of identifying existing practices, trends and challenges, contributions towards socioeconomic development, and the impact of CSR practices on the financial performance of CPSEs. In doing so, it provides a framework for the development of CSR in public sector enterprises.