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?

QUESTION

Medium

Economy

Prelims 2019

Consider the following statements :

Petroleum and Natural Gas Regulatory Board (PNGRB) is the first regulatory body set up by the Government of India.
One of the tasks of PNGRB is to ensure competitive markets for gas.
Appeals against the decisions of PNGRB go before the Appellate Tribunals for Electricity.

Which of the statements given above are correct?

Select an option to attempt

Explanation

Statement 1 is Incorrect: The Petroleum and Natural Gas Regulatory Board (PNGRB) was constituted under the Petroleum and Natural Gas Regulatory Board Act, 2006. The independent regulator, Telecom Regulatory Authority of India (TRAI), set up under the TRAI Act of 1997, was the first independent regulator in India. Hence, statement 1 is not correct.

Statement 2 is correct: PNGRB is tasked to protect the interests of consumers and entities engaged in specified activities relating to petroleum, petroleum products and natural gas and to promote competitive markets and for matters connected therewith or incidental thereto.

Statement 3 is correct: The Appellate Tribunal established under Section 110 of the Electricity Act, 2003 (Central Act 36 of 2003) shall be the Appellate Tribunal to appeal against the decisions of the PNGRB.

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