In India, which of the following review the independent regulators in sectors like telecommunications, insurance, electricity, etc.? 1. Ad Hoc Committees set up by the Parliament 2. Parliamentary Department Related Standing Committees 3. Finance Commission 4. Financial Sector Legislative Reforms Commission 5. NITI Aayog Select the correct answer using the code given below.

1. The oversight and review of independent regulators in various sectors like telecommunications (TRAI), insurance (IRDAI), electricity (CERC/SERCs), etc., in India is primarily done through parliamentary mechanisms. 2. Item 1: Ad Hoc Committees set up by the Parliament can be constituted to examine specific issues, which may include the functioning or performance of regulatory bodies. 3. Item 2: Parliamentary Department Related Standing Committees (DRSCs) scrutinize the legislative proposals, budgets, and policies of ministries, which often includes the functioning of the regulators under their purview. 4. Item 3: The Finance Commission deals with the distribution of financial resources between the Centre and States and does not review sectoral regulators. 5. Item 4: The Financial Sector Legislative Reforms Commission (FSLRC) was a temporary commission tasked with suggesting reforms in the financial sector; it is not a body for ongoing review of regulators. 6. Item 5: NITI Aayog is a policy think tank and does not have a formal role in the oversight or review of independent regulators in this manner. 7. Thus, the parliamentary committees (both Ad Hoc and Standing) are the relevant bodies among the options given for reviewing independent regulators.