10 Jun 2022: PIB Summary for UPSC

TABLE OF CONTENTS

1. Central Information Commission
2. IN-SPACe
3. NFRA

Central Information Commission

Syllabus: GS II, Governance, Transparency and Accountability

Prelims: CIC, RTI

Mains: Effectiveness of RTI in bringing transparency and accountability.

Context: The 14th Special General Body Meeting of National Federation of Information Commissions of India was held at CIC Bhawan in Delhi.

Important Highlights:

• There has been a consistent decline in the pending cases related to RTI with a corresponding rise in disposal of the RTI appeals.
• Empowering the citizens through information has been the supreme priority of the Central Information Commission and it will continue to work towards that direction.
• The reduction in the pendency of cases from 40,000 to 27, 000 has been a remarkable achievement of CIC.
• An increase in the participation of states in the National Federation of Information Commissions of India has been observed.
• It was conveyed in the meeting that even the non-domicile or non-state subjects of Jammu and Kashmir can file RTI.
• In the upcoming days, a larger emphasis will be placed on strengthening the independence and resources of the Information Commissions.

Read more about CIC in the linked article

IN-SPACe

Syllabus: GS III, Science and Technology, awareness in the field of Space

Prelims: IN-SPACe

Mains: Significance of the space industry as a contributor to the country’s economy.

Context: The headquarters of the Indian National Space Promotion and Authorisation Centre (IN-SPACe) was inaugurated by the Prime Minister in Ahmedabad, Gujarat.

Read comprehensively about IN-SPACe in the linked article

NFRA

Syllabus:GS II, Polity, regulatory bodies

Prelims: About NFRA

Context: The National Financial Reporting Authority has organised a seminar on “High Quality Financial Reporting Framework through Effective Independent Oversight”. This seminar has been a part of the celebration of Azadi ka Amrit Mahotsav under the Ministry of Corporate Affairs.

About the event:

• The iconic event of NFRA will witness participation of experts in regulation of audit and accounting standards from India and other countries.
• There will be a session by an expert from the Certified Public Accountants and Auditing Oversight Board, Japan to discuss global experiences about review of audit quality and financial reporting.

NFRA:

• The National Financial Reporting Authority was established in 2018 by the Government of India under sub-section (1) of section 132 of the Companies Act, 2013.
• The NFRA rules envisages the creation of an authority to protect public interest and the interests of investors, creditors and others associated with the companies or bodies corporate.
• NFRA is entrusted with the tasks of maintaining high quality standards of accounting and auditing and providing recommendations for better management of audits.

Read more about NFRA in the link shared

Read previous PIB here.

PIB 10 June 2022:- Download PDF Here