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Consider the following statements regarding Telecom Regulatory Authority of India (TRAI).
  1. Telecom Regulatory Authority of India (TRAI) was established through an act of parliament.
  2. One of the objectives of TRAI is to provide a fair and transparent policy environment promoting a level playing field amongst players and facilitating fair competition.
  3. TRAI regulates telecom services but does not have the power to fix/revise tariffs for telecom services, which is done by the Union Ministry of Finance.
Which of the above statements is/are correct?
  • a)
    2 only 
  • b)
    1, 2 
  • c)
    2, 3 
  • d)
    1, 2, 3
Correct answer is option 'B'. Can you explain this answer?
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Verified Answer
Consider the following statements regarding Telecom Regulatory Authori...
The Telecom Regulatory Authority of India (TRAI) was established in 1997 by an Act of Parliament, called the Telecom Regulatory Authority of India Act, 1997, to regulate telecom services, including fixation/revision of tariffs for telecom services which were earlier vested in the Central Government.
One of the main objectives of TRAI is to provide a fair and transparent policy environment which promotes a level playing field and facilitates fair competition.
The TRAI Act was amended by an ordinance, effective from 24 January 2000, establishing a Telecommunications Dispute Settlement and Appellate Tribunal (TDSAT) to take over the adjudicatory and disputes functions from TRAI.
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Consider the following statements regarding Telecom Regulatory Authori...


Explanation:

Statement 1:
- Telecom Regulatory Authority of India (TRAI) was indeed established through an act of parliament, specifically the Telecom Regulatory Authority of India Act, 1997.
- This statement is correct.

Statement 2:
- One of the primary objectives of TRAI is to provide a fair and transparent policy environment promoting a level playing field amongst players and facilitating fair competition in the telecom sector.
- TRAI plays a crucial role in regulating the telecom services industry to ensure fair practices.
- This statement is correct.

Statement 3:
- TRAI does have the authority to regulate and set guidelines for telecom services in India.
- However, the power to fix or revise tariffs for telecom services rests with the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) and the Union Ministry of Communications.
- This statement is incorrect.

Therefore, the correct answer is option 'b', which includes statements 1 and 2.
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PASSAGE IIIThe need for Competition Law becomes more evident when foreign direct investment (FDI) is liberalised. The impact of FDI is not always pro-competitive. Very often FDI takes the form of a foreign corporation acquiring a domestic enterprise or establishing a joint venture with one. By making such an acquisition the foreign investor may substantially lessen competition and gain a dominant position in the relevant market, thus charging higher prices. Another scenario is where the affiliates of two separate multinational companies (MNCs) have been established in competition with one another in a particular developing economy, following the liberisation of FDI. Subsequently, the parent companies overseas merge. With the affiliates no longer remaining independent, competition in the host country may be artificially inflated. Most of these adverse consequences of mergers and acquisitions by MNCs can be avoided if an effective competition law is in place. Also, an economy that has implemented an effective competition law is in a better position to attract FDI than one that has not. This is not just because most MNCs are expected to be accustomed to the operation of such a law in their home countries and know how to deal with such concerns but also that MNCs expect competition authorities to ensure a level playing field between domestic and foreign firms.Q. According to the passage, how does a foreign investor dominate the relevant domestic market?1. Multinational companies get accustomed to domestic laws.2. Foreign companies establish joint ventures with domestic companies.3. Affiliates in a particular market/sector lose their independence as their parent companies overseas merge.4. Foreign companies lower the cost of their products as compared to that of products of domestic companies. Which of the statements given above are correct?

PASSAGE IIIThe need for Competition Law becomes more evident when foreign direct investment (FDI) is liberalised. The impact of FDI is not always pro-competitive. Very often FDI takes the form of a foreign corporation acquiring a domestic enterprise or establishing a joint venture with one. By making such an acquisition the foreign investor may substantially lessen competition and gain a dominant position in the relevant market, thus charging higher prices. Another scenario is where the affiliates of two separate multinational companies (MNCs) have been established in competition with one another in a particular developing economy, following the liberisation of FDI. Subsequently, the parent companies overseas merge. With the affiliates no longer remaining independent, competition in the host country may be artificially inflated. Most of these adverse consequences of mergers and acquisitions by MNCs can be avoided if an effective competition law is in place. Also, an economy that has implemented an effective competition law is in a better position to attract FDI than one that has not. This is not just because most MNCs are expected to be accustomed to the operation of such a law in their home countries and know how to deal with such concerns but also that MNCs expect competition authorities to ensure a level playing field between domestic and foreign firms.Q. With reference to the passage, consider the following statements:1. It is desirable that the impact of Foreign Direct investment should be pro-competitive.2. The entry of foreign investors invariably leads to the inflated prices in domestic markets.Which of the statements given above is/are correct?

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Consider the following statements regarding Telecom Regulatory Authority of India (TRAI). Telecom Regulatory Authority of India (TRAI) was established through an act of parliament. One of the objectives of TRAI is to provide a fair and transparent policy environment promoting a level playing field amongst players and facilitating fair competition. TRAI regulates telecom services but does not have the power to fix/revise tariffs for telecom services, which is done by the Union Ministry of Finance.Which of the above statements is/are correct?a)2 onlyb)1, 2c)2, 3d)1, 2, 3Correct answer is option 'B'. Can you explain this answer?
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