GS PAPER II: Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment.

Context: Union Minister of Finance and Corporate Affairs virtually commemorated the 12th Annual Day of the Competition Commission of India (CCI).

Competition Commission of India (CCI):

• The CCI was established under the Competition Act, 2002.
• It is the competition regulator in India.
• It is a statutory body of the Government of India responsible for enforcing The Competition Act, 2002 and promoting competition throughout India and to prevent activities that have an appreciable adverse effect on competition in India.
• CCI consists of a Chairperson and 6 Members appointed by the Central Government.
• It is the duty of the Commission to eliminate practices having adverse effect on competition, promote and sustain competition, protect the interests of consumers and ensure freedom of trade in the markets of India.
• The Commission is also required to give an opinion on competition issues on a reference received from a statutory authority established under any law and to undertake competition advocacy, create public awareness and impart training on competition issues.

https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1720343#:~:text=The%20CCI%20was%20established%20under,competitive%20conduct%20came%20into%20force.

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