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 decisio

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Q: 4 (IAS/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?

question_subject: 

Current Affairs

question_exam: 

IAS

stats: 

0,129,71,45,129,10,16

keywords: 

{'natural gas regulatory board': [0, 0, 0, 1], 'first regulatory body': [0, 0, 0, 1], 'appellate tribunals': [0, 0, 0, 1], 'pngrb': [0, 0, 0, 1], 'competitive markets': [0, 0, 0, 1], 'appeals': [1, 0, 0, 4], 'petroleum': [3, 1, 3, 10], 'decisions': [0, 0, 2, 7], 'gas': [9, 1, 9, 27], 'government': [5, 0, 0, 1]}

Statement 1: "Petroleum and Natural Gas Regulatory Board (PNGRB) is the first regulatory body set up by the Government of India." This statement is incorrect because the PNGRB was not the first regulatory body set up by the Government of India. There were other regulatory bodies prior to PNGRB like the Securities and Exchange Board of India (SEBI), Telecom Regulatory Authority of India (TRAI), etc.

Statement 2: "One of the tasks of PNGRB is to, ensure competitive markets for gas." This statement is correct. PNGRB is responsible for regulating the refining, processing, storage, transportation, distribution, marketing and sale of petroleum, petroleum products, and natural gas excluding production of crude oil and natural gas, with a view to protect the interests of consumers and entities engaged in specified activities.

Statement 3: "Appeals against the decisions of PNGRB go before the Appellate Tribunals for Electricity." This statement is incorrect as appeals against the decisions of PNGRB do not go to the Appellate Tribunal for Electricity but to the Appellate Tribunal for Petroleum and Natural Gas.

Hence, only statement 2 is correct, making option 2 the right answer.