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UPSC Prelims 2019 Paper-1 📅 02 Jun, 2019

In India, which of the following review the independent regulators in sectors like telecommunications, insurance, electricity, etc.?
1. Ad Hoc Committees set up by the Parliament
2. Parliamentary Department Related Standing Committees
3. Finance Commission
4. Financial Sector Legislative Reforms Commission
5. NITI Aayog

Select the correct answer using the code given below.

A
1 and 2
B
1, 3 and 4
C
3, 4 and 5
D
2 and 5
Result Summary
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UPSC Prelims
2019 • 02 Jun, 2019 • Paper-1
In India, which of the following review the independent regulators in sectors like telecommunications, insurance, electricity, etc.?
1. Ad Hoc Committees set up by the Parliament
2. Parliamentary Department Related Standing Committees
3. Finance Commission
4. Financial Sector Legislative Reforms Commission
5. NITI Aayog

Select the correct answer using the code given below.
Correct Answer
1 and 2
Regulatory Oversight Framework: Independent regulators (such as TRAI, IRDAI, CERC) are statutory bodies created by Acts of Parliament. Hence, to maintain democr......
Ref/Book : UPSC Prelims 2019
Ref. Subject Polity
Chapter -
Ref. Topic Parliament
Pg. No -
💡 Analysis & Explanation
Regulatory Oversight Framework ▼
Independent regulators (such as TRAI, IRDAI, CERC) are statutory bodies created by Acts of Parliament. Hence, to maintain democratic accountability, they are ultimately answerable to the Parliament.
Review Mechanisms ▼
This critical parliamentary oversight is routinely exercised through the 'Parliamentary Department Related Standing Committees' (DRSCs), which scrutinize their grants, budgets, and operational functioning. Furthermore, Parliament has the authority to set up specific 'Ad Hoc Committees' to investigate particular complex issues or controversies related to these regulators.
Exclusion Logic ▼
The Finance Commission purely dictates tax devolution, the FSLRC was a one-off committee to overhaul financial laws, and NITI Aayog is merely an executive policy think tank. None possess statutory or constitutional authority to review regulators.
Conclusion ▼
Only options 1 and 2 are empowered to perform this review.
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