Regulatory Oversight Mechanisms
Question
In India, which of the following review the independent regulators in sectors like telecommunications, insurance, electricity, etc.?
Select the correct answer using the code given below.
- 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
Options
1 and 2
1, 3 and 4
3, 4 and 5
2 and 5
Explanation
Parliamentary Department Related Standing Committees (like the Standing Committee on Finance, Communications, etc.) regularly review independent regulators and their functioning, making it a primary mechanism of democratic oversight. Ad Hoc Committees set up by Parliament can also review specific regulatory issues when required. The Finance Commission deals with fiscal federal relations; the Financial Sector Legislative Reforms Commission is a separate body; and NITI Aayog provides policy advice but is not a primary review mechanism for regulators. Parliamentary committees remain the institutional safeguard for regulatory accountability. > Regulatory review: Parliamentary standing committees (primary); ad hoc committees (as needed).
Question details
Year
2019
Paper
GS Paper 1
Question
Q69
Subject
Polity
Sub-topic
Parliamentary and institutional review of regulators
Type
Matching pairs
Difficulty
Hard
Nature
Static
Source hint
Parliamentary oversight and regulatory governance
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