Weekly CA Quiz: March 2018 1st week with PDF

Explanation: According to an official data, India’s GDP for the third quarter of 2017-18 grew at 7.2 per cent. The GDP growth during the second quarter of the fiscal was at 6.5 per cent. With this India has replaced China as world’s fastest growing economy, which grew 6.8 percent in October-December 2017.

Explanation: A pair of futuristic superheroes triumphed in the race to become mascots for the 2020 Olympic and Paralympic Games. It is the first time in Olympic history that pupils have the final say in selecting the mascot. The names of the mascots are yet to be decided.

Explanation: The Telangana government launched an m-Governance mobile application called ‘T App Folio’ to help citizens with one point access to government services like MeeSeva services, RTA services, fee payments and bill payment services etc.

Explanation: The Cabinet Committee on Economic Affairs chaired by the PM Narendra Modi approved the continuation of Prime Minister’s Employment Generation Programme (PMEGP) beyond 12th Plan for three years from 2017-18 to 2019-20. The program outlay is proposed at Rs.5,500 crore.

Explanation: Union Textile Minister Smriti Irani attended the 27th Technological Conference of Indian Jute Industries’ Research Association (IJIRA) on Shaping the Future of Jute in Kolkata, West Bengal.

Explanation: Senior IAS officers R Subrahmanyam and Anil Gopishankar Mukim have been appointed as secretaries of Higher Education, and Mines Department respectively, as part of a major bureaucratic reshuffle.

Explanation: Russia, India and Bangladesh signed a trilateral agreement to cooperate in the construction of the Rooppur Nuclear Power Plant in Bangladesh, work on which started late last year.

Explanation: Noted Odia Bhajan singer Arabinda Muduli has passed away following a cardiac arrest. He was 56. A musician, singer and lyricist, Muduli enthralled the audience with devotional songs and had won the hearts of millions of people in Odisha and elsewhere.

Explanation: The Maharashtra government has tied up with Wikipedia, the free online encyclopedia, to propagate the Marathi language and increase its usage online.

Explanation: Export-Import Bank of India (Exim Bank) has signed an agreement with the United Nations Development Programme (UNDP) for financing a project on ‘Capacity Building of MSMEs in North East India for Export Competitiveness’.

Explanation: Union Cabinet has approved the establishment of National Financial Reporting Authority (NFRA). NFRA will act as an independent regulator for the auditing profession which was one of the key changes brought in by the Companies Act 2013.

Explanation: Tamil Nadu Government has set up a 24-hour helpline which is for the first time in the country that would provide information on education and offer guidance to students. Chief Minister K Palaniswami formally launched the toll free number 14417 through the 24-hour Education Guidance Centre set up at the Secretariat that would offer information relating to school education and offer guidance to students.

Explanation: With 31 new Indians on the list, India comes third after China and USA on Hurun’s Global Rich List 2018. The Hurun Rich List 2018 ranked 2,694 billionaires from 68 countries and 2,157 companies.

Explanation: The Ministry of Health and Family Welfare has launched a competition for design of a logo and tagline for the Ayushman Bharat programme, announced in the 2018-19 Budget this year. The main aim of the competition is to generate awareness among the population about these health sector initiatives and engage them towards ownership in shaping a healthy India.

Explanation: The Karnataka government inaugurated the first phase of a 2,000 megawatts (MW) solar park in the drought-prone Pavagada region of Tumkur district, about 180km from Bengaluru. The first phase of the Rs 16,500 crore park called “Shakti Sthala” will generate 600MW, while the balance 1,400MW is expected to be commissioned by the end of this year.

Explanation: With 31 new Indians on the list, India comes third after China and USA on Hurun’s Global Rich List 2018. The Hurun Rich List 2018 ranked 2,694 billionaires from 68 countries and 2,157 companies. The report mentioned that the most number of billionaires – 19 – in India were produced by the pharmaceuticals sector, followed by automobiles with 14 and consumer products with 11.

Explanation: Actor-politician Shatrughan Sinha has been honoured with a lifetime achievement award for his contribution to the fields of arts and politics at a ceremony in the UK’s Parliament complex.

Explanation: India defeated Pakistan in the inaugural IBSF Snooker Team World Cup in Doha. The Indian combine of Pankaj Advani and Manan Chandra came back from 0-2 down in the best-of-five final to clinch it with a margin of 3-2. The Indian team was awarded $15,000 (nearly ₹10 lakh) for winning the tournament.

Explanation: Khagendra Jamataia, Tripura Fisheries and Cooperation minister and a CPM contestant in the recent state assembly poll has passed away.

Explanation: Navjot Kaur produced a dominating performance in the final of the women’s 65 kg freestyle category to clinch the gold medal in what was a day to remember for Indian wrestling at the Asian Wrestling Championships in Bishkek, Kyrgyzstan.

Explanation: On 20 December 2013, at its 68th session, the United Nations General Assembly (UNGA) decided to proclaim 3 March, the day of the adoption of the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES), as World Wildlife Day, which was proposed by Thailand, to celebrate and raise awareness of the world’s wild fauna and flora. The World Wild Life Day 2018 theme is “Big cats – predators under threat”.

Explanation: The Odisha government has launched a programme Ama Gaon, Ama Vikas (Our Village, our development) to reach out to the people in rural areas and involve themselves in the developmental activities. Chief Minister Naveen Patnaik flagged off mobile video vans for ‘Ama Gaon Ama Vikas’ programme that will move across the State to highlight various welfare schemes at villages in the state.

Explanation: Literateur Prafulla Das has passed away. Das was a bachelor and was suffering from old age related ailments. He was a recipient of the prestigious “Sarala Award” for his achievement in the literary field.

Explanation: Mukul Sangma submitted his resignation from the post of Meghalaya Chief Minister. Sangma submitted his resignation to Meghalaya Governor Ganga Prasad in Shillong following the assembly election results.

Explanation: Disability rights activist Javed Abidi has passed away after succumbing to chest infection.

Explanation: Italy international footballer Davide Astori has been found dead in his hotel room. Astori, who was captain of Fiorentina, passed away in his sleep overnight.

Explanation: Aamir Khan launched the book ‘How to be a Human’, which is penned by Rajkumar Hirani’s wife Manjeet Hirani. The book is based on the dog which the Hirani’s adopted from ‘PK’ sets.

Explanation: National People’s Party (NPP) President Conrad Sangma will be the new chief minister of Meghalaya. He will replace Mukul Sangma.

Explanation: The government has set up a steering committee headed by Economic Affairs Secretary, Subhash Chandra Garg to consider various issues relating to the development of Fintech space in India with a view to make Fintech related regulations more flexible and generate enhanced entrepreneurship.

Explanation: Germany’s Angela Merkel secured her fourth term as the Chancellor after the Social Democratic party voted in favour of a grand coalition with Merkel’s Christian Democratic Union.

Explanation: Information and Broadcasting Minister Smiriti Irani inaugurated 2018 edition of FICCI Frame in Mumbai. The three- day global convention covering the entire gamut of Media and Entertainment Industry will attract not only the industry stakeholders from across the world but also the government policy makers from India and abroad.

Explanation: Viswanathan Anand won the rapid event at the 11th Tal Memorial chess in Moscow. The World rapid champion finished the event with 6 points while Shakhriyar Mamedyarov (with 5 points) came second.

Explanation: The week-long 29th annual, world-famous International Yoga Festival (IYF) was inaugurated in Rishikesh, Uttarakhand. The IYF offers daily classes in meditation, mudras, Sanskrit chanting, reiki, Indian philosophy and spiritual discourses to be held by revered spiritual leaders from India and abroad

Explanation: Shigmotsav has been organized enthusiastically in Goa. Shigmotsav or Shigmo is one of the several cultural festivals of the coastal state and is celebrated through colours, costumes, music, dance and parades. Shigmo parades offer glimpses of Goan life depicted through folk dance and music performances by locals.

Explanation: The Marshall Islands is creating its own digital currency in a bid to raise money. In doing so it becomes the first country in the world to recognize a cryptocurrency as legal tender. The small Pacific Island nation passed the Sovereign Currency Act to create the ‘sovereign’, or SOV.

Explanation: The Union Minister of State (I/C) of the Ministry of Development of North Eastern Region (DoNER), Dr Jitendra Singh, launched the social media of “Namaste Shalom”, a magazine on India-Israel relations. The magazine ‘Namaste Shalom’ is edited by Tarun Vijay, former MP.

Explanation: China has set its Gross Domestic Product (GDP) growth target at around 6.5 percent for the year 2018-19. The figures are, however, slightly lower than previous figures of 6.7 percent in 2016 and 6.8 percent in 2017 respectively. China will still remain as one of the world’s fastest-growing economies in the world.

Explanation: The GDP growth is seen rising to a respectable 7.5 per cent next fiscal from 6.5 per cent expected this fiscal, propelled by domestic consumption, policy push, and synchronised global growth, according to Crisil.

Explanation: Women and Child Development Ministry has approved projects worth over Rs 2,900 crore under the Nirbhaya fund for eight major cities to make them safer for women. These cities are Delhi, Mumbai, Kolkata, Chennai, Bengaluru, Hyderabad, Ahmedabad and Lucknow.

Explanation: Nagaland Governor PB Acharya has appointed Neiphiu Rio as the Chief Minister of the state. He will replace TR Zeliang.

Explanation: Vietnam President Tran Dai Quang arrived on a three-day visit to India at the invitation of his Indian counterpart Ram Nath Kovind.  Vietnam is an important partner in southeast Asia and is currently the country coordinator for India with the Association of Southeast Asian Nations (Asean) regional bloc, a role that will be handed over to Thailand later this year.

Explanation: Best Picture – “The Shape of Water”

Explanation: A total amount of Rs. 5638.87 crore was sanctioned with release of Rs. 2148.17 crore since 2014-15 till date under the Swadesh Darshan Scheme of Ministry of Tourism.

Explanation: Citi India has launched India’s first home loan linked to the 3-month Government of India Treasury Bill benchmark rate. This will give home buyers the opportunity to take part in a floating rate benchmarked to a publicly available external reference rate, which is driven by market forces, and in line with international markets such as the US, Singapore, Taiwan and Hong Kong.

Explanation: Biplab Kumar Deb will be the new Chief Minister of Tripura. He will replace Manik Sarkar.

Explanation: Under the PRASHAD scheme, 23 projects have been sanctioned to 15 States for a total amount of Rs.687.92 crore with release of Rs.241.28 crore since 2015-16 till date.

Explanation: India’s first helicopter taxi service was launched in Bengaluru to fly passengers from Kempegowda International Airport to Electronic City. The service is expected to reduce the time taken to cover the distance from 2 hours to 15 minutes. The helicopter will seat up to six people apart from the pilot and the service will cost ₹3,500 plus GST.

Explanation: Out of 133 countries, India is ranked fourth on a global index for its military strength, only the United States, Russia and China are ranked above India on the list. Meanwhile, neighbouring Pakistan is ranked 13th on the Global Firepower index 2017.

Explanation: Veteran Bollywood actor Shammi has passed away after prolonged illness. She was 89. Fondly addressed as ‘Shammi aunty’ by Bollywood celebrities, Shammi, whose real name is Nargis Rabadi, started her film career with Malhar as a leading lady and later on moved to the comic genre.

Explanation: Best Director – Guillermo del Toro, “The Shape of Water”

Explanation: Manu Bhaker, who recently earned a quota place for the Beunos Aires 2018 Youth Olympic Games scheduled for October, won a sensational gold in the Women’s 10m Air Pistol, to put India firmly on top of the medals tally in the year’s first International Shooting Sport Federation (ISSF) World Cup stage in Mexico’s Guadalajara.

Explanation: Veteran Odia film actor Sarat Mohanty has passed away following prolonged illness. The comedian, a native of Khirkona, had acted in a number of Odia films.

Explanation: Best Actor – Gary Oldman, “Darkest Hour”
Best Actress – Frances McDormand, “Three Billboards Outside Ebbing, Missouri”
Best Supporting Actor – Sam Rockwell, “Three Billboards Outside Ebbing, Missouri”
Best Supporting Actress – Allison Janney, “I, Tonya”

Explanation: Union Minister for Road Transport & Highways, Shipping, Water Resources, River Development and Ganga Rejuvenation Shri Nitin Gadkari launched a mobile App named Sukhad Yatra and Toll-free Emergency number 1033 for Highway users in New Delhi.

Explanation: In a major boost for research and innovation in the country, the Central Government has sanctioned a sum of Rs. 1000 crore for the phase two of the Impacting Research Innovation and Technology (IMPRINT) India programme. Under the IMPRINT-I Programme, 142 projects at a cost of Rs. 318.71 crore are already under implementation.

Explanation: According to Forbes’ 2018 ‘World’s Billionaires’ list, Mukesh Ambani’s net worth has soared to $40.1 billion, making him the richest Indian for the 11th year in a row, while Amazon founder Jeff Bezos toppled Bill Gates as the world’s wealthiest person.

Explanation: The headquarters of the Animal Welfare Board of India (AWBI) has been shifted from Chennai to Haryana’s Ballabhgarh for “better coordination” between the environment ministry and the the board.

Explanation: The Airports Authority of India (AAI) is participating in World ATM Congress (WATMC) 2018 being held at IFEMA, Feria de Madrid, Spain from March 6 to 8.

Explanation: Shivaji Dasgupta, a doyen of Indian broadcasting has passed away after prolonged illness. He was 71.

Explanation: India is all set to become the 69th member of the European Bank for Reconstruction and Development (EBRD) after shareholders of the international financial institution gave their nod to the country’s candidature. The formal membership process will now get underway, which includes the purchase of shares by India at an estimated cost of around €1 million.