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Asked: October 15, 20242024-10-15T17:35:06+05:30 2024-10-15T17:35:06+05:30In: MPPSC Mains PYQs

Discuss the functions of the Competition Commission of India.

Answer the question in maximum 50 words/5 to 6 lines. This question carries 05 marks. [MPPSC 2021]

Discuss the functions of the Competition Commission of India.

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Visha Patnaik · Answer 1 · 2024-10-29T10:35:06+05:30

The Competition Commission of India (CCI) is essential for promoting fair competition in the market. Here are its key functions:

Definition: CCI monitors and addresses practices that harm competition.
Example: Investigating price-fixing by companies to protect consumer interests.

Definition: CCI evaluates mergers to prevent monopolies.
Example: Assessing a merger between large firms to ensure it doesn’t reduce market competition.

Definition: CCI ensures consumers benefit from competitive markets.
Example: Encouraging businesses to improve products and services, leading to better choices for consumers.

Through these functions, CCI aims to maintain a fair and competitive marketplace in India.