UPSC Previous Year Question | Prelims GS | 2019

Consider the following statements: 1. Petroleum and Natural Gas Regulatory Board (PNGRB) is the first regulatory body set up by the Government of India. 2. One of the tasks of PNGRB is to ensure competitive markets for gas. 3. Appeals against the decisions of PNGRB go before the Appellate Tribunals for Electricity. Which of the statements given above are correct?

  1. 1 and 2 only
  2. 2 and 3 only
  3. 1 and 3 only
  4. 1, 2 and 3

Answer

Correct Answer

2 and 3 only

Explanation

PNGRB (established under the PNGRB Act, 2006) is not the first regulator - regulators such as SEBI, TRAI and electricity regulators preceded it. Its functions include promoting competitive markets, and appeals against its decisions lie before the Appellate Tribunal for Electricity. Statements 2 and 3 are correct.

Topics: energy sector regulation, petroleum and natural gas regulatory board (pngrb), polity and economy, regulatory bodies