Economics • Indian EconomyEasy
What is the principal mandate of the 'Competition Commission of India' (CCI)?
A. To regulate foreign exchange inflows and outflows.
B. To eliminate practices having adverse effect on competition, promote and sustain competition, and protect the interests of consumers in India.✓ Correct Answer
C. To fix the minimum support prices for agricultural commodities.
D. To audit government accounts and expenditures.
💡 Solution & Explanation
The Competition Commission of India serves as the chief national antitrust regulator, established under the Competition Act of 2002 to eliminate anti-competitive practices and protect consumer welfare. It actively monitors abuse of dominance, cartels, and major business combinations that could adversely affect domestic markets. Unlike economic regulators in banking or foreign exchange, its sole focus is fair market competition.
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