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
Correct Answer
B
1, 3 and 4
C
3, 4 and 5
D
2 and 5
Explanation
Independent regulators are accountable to the Parliament, which exercises oversight through permanent Department Related Standing Committees and temporary Ad Hoc Committees to ensure regulatory transparency and performance. NITI Aayog and the Finance Commission are advisory and fiscal bodies respectively, lacking the formal legislative mandate to review the functioning of these regulators. The core concept being tested is **Parliamentary Oversight** and the accountability mechanisms for statutory bodies in India.
Governance & Regulatory BodiesParliamentary Oversight of RegulatorsIndependent RegulatorsTelecommunicationsInsuranceElectricityAd Hoc CommitteesParliamentParliamentary Department Related Standing CommitteesFinance CommissionFinancial Sector Legislative Reforms CommissionNITI Aayog