CSR - GS questions based on daily current affairs

1)   Who is the chairman of committee to suggest measures for monitoring the progress of implementation of Corporate Social Responsibility (CSR) policies by companies?

a. Dr Arvind Subramanian
b. K.V.Thomas
c. Anil Baijal
d. C.Rangrajan
Answer  Explanation 

ANSWER: Anil Baijal

Explanation:
CSR norms : Came into effect from 1 April 2014.
- Entities having at least Rs.5 crore net profit or Rs.1,000 crore turnover or Rs.500 crore net worth would come under its ambit.

Recommendations:

1. Uniform tax treatment for all corporate social responsibility (CSR) activities carried out under the new Companies Act.
2. Leniency towards non-compliant firms in the first 2-3 years of this law.
3. Government cannot and should not maintain a data bank of CSR implementing agencies and that responsibility should be left to the concerned company’s board or CSR committee.
4. CSR norms should not be applicable to not-for-profit (Section 8) companies.
2)   Which of the following statements is / are correct?

1. The CSR norms is applicable to companies with an annual turnover of 1000 crore rupees and more, or a net value of 500 crore rupees and more, or a net income of 5 crore rupees and more.
2. As per the CSR rule, company need to set-up a CSR committee consisting of their board members, as well as at least one independent director.
3. It also encourages companies to spend a minimum of 2 % of their average net profit in the previous 3 years on CSR activities.

a. 1,2
b. 2,3
c. 1,3
d. All of the above
Answer  Explanation 

ANSWER: All of the above

Explanation:
No explanation is available for this question!
3)   Anil Baijal Panel is related to

a. Environmental effects of land acquisition
b. Evaluate skill development schemes in rural India
c. Social effects of land acquisition
d. Evaluate corporate CSR activities
Answer  Explanation 

ANSWER: Evaluate corporate CSR activities

Explanation:
Anil Baijal Panel to suggest a framework to assess CSR activities. The committee would work on money spent on such activities, by the corporates.

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