In reference to Impact Assessment of CSR Activities, answer the following: Whether the impact assessment needs to be done for an ongoing project in respect of which an outlay of ₹1 crore or more has been made in the fina
CS Professional · CSR and Social Governance · PYQS · June 2024
In reference to Impact Assessment of CSR Activities, answer the following: Whether the impact assessment needs to be done for an ongoing project in respect of which an outlay of ₹1 crore or more has been made in the financial year but the project is not yet completed?
Answer & Explanation:
Impact assessment is required to be done only after project is completed. If the project is on going or not yet completed, even if the outlay has exceeded ₹1 crore, impact assessment is not mandatory in that financial year. The Impact Assessment should be conducted for those projects, which have completed one year or for on-going projects (period more than three years).
Topics: Corporate Social Responsibility (CSR)
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