UPSC Prelims 2019 Question:

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?

Explanation:

• • The Telecom Regulatory Authority of India (TRAI) was the first regulatory body established in 1997 by the Government of India. The Petroleum and Natural Gas Regulatory Board (PNGRB) was constituted under the Petroleum and Natural Gas Regulatory Board Act, 2006. So, statement 1 is not correct.
    
    

• One of the functions of PNGRB is to protect the interests of consumers and entities engaged in specified activities relating to petroleum, petroleum products, and natural gas by fostering fair trade and competition amongst the entities to promote competitive markets. So, statement 2 is correct.
  
  

• Appellate Tribunals for Electricity (APTEL) is a multi-disciplinary expert appellate body, constituted in 2005, in terms of the Electricity Act, 2003, to hear appeals against the orders of the adjudicating officer or the Central and State Electricity Regulatory Commissions. In 2007, the APTEL was designated as the Appellate Tribunal to hear the appeals against the orders of the PNGRB. So, statement 3 is correct.
  
  

Therefore, option (2) is the correct answer.

Subject: Economics | Economic Reforms