QUIZ – 2017: Insights Current Affairs Quiz, 07 March 2018

• Solution: c.

  The  term  of  the  Chief  Minister  is  not  fixed  and  he  holds  office  during  the  pleasure  of  the  governor. However, this does not mean that the governor can dismiss him at any time. He cannot be dismissed by the governor as long as he enjoys the majority support in the legislative assembly. But, if he loses the confidence of the assembly, he must resign or the governor can dismiss him.

   

  In 1971, the Supreme Court ruled that a council of ministers must always exist to advise the governor, even  after  the  dissolution  of  the  state  legislative  assembly  or  resignation  of  a  council  of  ministers. Hence,  the  existing  ministry  may  continue  in  the  office  until  its  successor  assumes  charge.

   

  Improvisation: http://www.thehindu.com/elections/tripura-2018/tripuras-fisrt-bjp-government-to-take-charge-on-march-8-manik-sarkar-resigns/article22924572.ece

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Solution: d.

Solution: a.

In the news: State visit of President of Vietnam;

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Solution: a.

The decision of the Cabinet aims at establishment of NFRA as an independent regulator for the auditing profession which is one of the key changes brought in by the Companies Act, 2013.

The jurisdiction of NFRA for investigation of Chartered Accountants and their firms under section 132 of the Act would extend to listed companies and large unlisted public companies, the thresholds for which shall be prescribed in the Rules. The Central Government can also refer such other entities for investigation where public interest would be involved.

The need for establishing NFRA has arisen on account of the need felt across various jurisdictions in the world, in the wake of accounting scams, to establish independent regulators, independent from those it regulates, for enforcement of auditing standards and ensuring the quality of audits to strengthen the independence of audit firms, quality of audits and, therefore,  enhance investor and  public confidence in financial disclosures of companies.

http://pib.nic.in/newsite/PrintRelease.aspx?relid=176918;

http://www.thehindu.com/business/Economy/post-nfra-formation-what-is-icais-role/article22925689.ece;

Solution: d.

From 2014 (PIB):  This project will provide 2G mobile coverage in identified uncovered areas of the NER, it will provide 2G seamless mobile coverage along National Highways in the NER and ensure reliability of the transmission network at State capitals and district headquarters in the NER. It will be funded by the Universal Service Obligation Fund.

“Improving mobile connectivity in the northeast region was one of the pet projects of the NDA government. However, it has suffered repeated delays due to issues with equipment testing and “indecisiveness from USOF,” accompanied by a difficult terrain. It is targeted to be completed by March 2019..”

Source/Improvisation: http://www.thehindu.com/business/Industry/northeast-needs-calling-facility-more-than-internet/article22920087.ece;

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