GS PrelimsEconomyEnergy Sector2004

Consider the following statements: 1. The Oil Pool Account of Government of India was dismantled with effect from 1.4.2002. 2. Subsidies on PDS kerosene and domestic LPG are borne by Consolidated Fund of India. 3. An expert committee headed by Dr R. A. Mashelkar to formulate a national auto fuel policy recommended that Bharat State II Emission Norms should be applied throughout the country by April 1, 2004. Which of the statements given above are correct?

A

1 and 2

B

2 and 3

C

1 and 3

D

1, 2 and 3

Correct Answer: Option A

Explanation

1 Statement 1 is correct. The Administered Pricing Mechanism (APM) for petroleum products, managed through the Oil Pool Account, was dismantled by the Government of India with effect from April 1, 2002. 2 Statement 2 is correct based on the answer key. It implies that Subsidies on PDS kerosene and domestic LPG, after the dismantling of the Oil Pool Account, were borne by the Consolidated Fund of India through the government budget. 3 Statement 3 is correct. The expert committee headed by Dr R. A. Mashelkar formulated a national auto fuel policy. Its recommendations included the phased implementation of stricter emission norms. The statement that it recommended Bharat Stage II Emission Norms should be applied throughout the country by April 1, 2004, is accurate regarding the policy's direction.

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