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 ✓ UPSC's answer
- (b) 1, 3 and 4
- (c) 3, 4 and 5
- (d) 2 and 5
Why the answer is (a)
• Independent regulators (TRAI, IRDAI, CERC) are statutory bodies accountable to Parliament, which reviews them through its committees.
• Department Related Standing Committees (2) examine the working of regulators under their ministries and scrutinise regulatory Bills; ad hoc committees (1) such as Joint Parliamentary Committees can be set up for specific reviews.
• The Finance Commission (3) deals with fiscal transfers; FSLRC (4) was a one-time commission that recommended regulatory reform but does not review regulators; NITI Aayog (5) is a policy think-tank without oversight powers.
• Hence 1 and 2, option (a).
Why the other options are wrong
- (b) 1, 3 and 4
- Finance Commission and FSLRC do not review regulators.
- (c) 3, 4 and 5
- None of 3, 4, 5 has an oversight role over regulators.
- (d) 2 and 5
- NITI Aayog has no review function over regulators.
Asked in the GS Paper I of the UPSC Civil Services Preliminary Examination 2019, held on 2 June 2019. Question and answer key: Union Public Service Commission. Explanation: UPSC Answer Check.