Current Affairs · Corporate Laws
Consider the following statements regarding Corporate Social Responsibility (CSR) initiatives in India: Statement I: Public Sector Undertakings (PSUs) are exempted from mandatory CSR spending as they are government-owned entities. Statement II: As per the Companies Act, 2013, every company meeting certain financial thresholds must spend at least 2% of its average net profits from the preceding three financial years on CSR activities. Which one of the following is correct in respect of the above statements?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Statement I is incorrect, but Statement II is correct.✓
- 2Statement I is correct, but Statement II is incorrect.
- 3Both Statement I and Statement II are correct, but Statement II is not the correct explanation for Statement I.
- 4Both Statement I and Statement II are correct, and Statement II is the correct explanation for Statement I.
Correct answer
Statement I is incorrect, but Statement II is correct.
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