Economics • Indian EconomyEasy
What is the primary mandate of the 'Competition Commission of India (CCI)'?
A. To eliminate practices having adverse effect on competition, promote and sustain fair competition, and protect interests of consumers in markets✓ Correct Answer
B. To set minimum support prices for agricultural commodities nationwide
C. To fix interest rates on corporate bank loans and commercial bonds
D. To regulate foreign exchange reserves and manage rupee depreciation
💡 Solution & Explanation
The Competition Commission of India operates under statutory powers granted by the Competition Act of 2002 to prevent anti-competitive business practices and protect consumer welfare. Agricultural pricing and corporate loan interest rates fall under separate regulatory bodies like the CACP and commercial banking authorities.
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