Q1. The Upper Chamber of Parliaments across the world are generally considered less powerful vis-à-vis their Lower Chamber. However, they are also vested with certain functions and powers, which enables them to play a decisive role. Critically analyse with special emphasis on India.

Q2. There are three justifications for regulatory interventions: prevention of market failure, checking anticompetitive practices and promoting public interest. In context of the above statement, critically examine the functioning of regulatory bodies in India.

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