WBCS.LIVE practice question

The petroleum price in India was completely deregulated according to the recommendations of which committee?

Solve this multiple-choice question and check the correct answer with its explanation below.

Answer options

  1. Kirit Parekh Committee
  2. Y. K. Alagh Committee
  3. Satish Chandra Committee
  4. Rakesh Mohan Committee

Correct answer and explanation

Correct answer: Kirit Parekh Committee

Explanation: āœ… Correct Answer: A. Kirit Parekh Committee šŸ“š Explanation: The Indian government moved toward market-linked pricing for petroleum products based on the suggestions of the Kirit Parekh Committee. This group was formed to look into the financial health of oil companies. The report paved the way for the total deregulation of diesel and petrol prices. This allowed fuel rates to change according to international market trends rather than being fixed by the state.