In India, which of the following review the independent regulators in sectors like telecommunications, insurance, electricity, etc.?

1. Ad Hoc Committee set up by the Parliament. 

 2. Parliamentary Department Related Standing Committee 

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 only 

 b) 1, 3 and 4 only 

 c) 3, 4 and 5 only 

 d) 2 and 5 only

Solution: 

• Independent regularity authorities are agencies of modern democratic governments. 
• They are parts of the executive wing with a certain degree of statutory or constitutional autonomy, reporting directly to the legislature.  
• Like the general executive, they are accountable to the legislature and subject to judicial review. Ad Hoc Committee set up by the Parliament and Parliamentary Department Related Standing Committee review the independent regulators in sectors like telecommunications, insurance electricity, etc. 
•  Finance Commission and NITI Aayog are advisory bodies and do not review the independent regulators in sectors like telecommunications. 
•  Financial Sector Legislative Reforms Commission (FSLRC) also had no role in reviewing independent regulators.

 Ans: (a)