UPSC Exam > UPSC Questions > Consider the following statements regarding t...
Start Learning for Free
Consider the following statements regarding the Competition Commission of India (CCI):
- It is a statutory body of the Government of India established under the Competition Act, 2002.
- It has the composition of a quasi-judicial body whose members are appointed by the Central Government.
Which of the statements given above is/are correct?
- a)1 only
- b)2 only
- c)Both 1 and 2
- d)Neither 1 nor 2
Correct answer is option 'C'. Can you explain this answer?
| FREE This question is part of | Download PDF Attempt this Test |
Most Upvoted Answer
Consider the following statements regarding the Competition Commission...
The correct answer is option 'C': Both 1 and 2.
The Competition Commission of India (CCI) is a statutory body of the Government of India established under the Competition Act, 2002. It is responsible for promoting fair competition in the Indian market and preventing anti-competitive practices.
Statement 1: It is a statutory body of the Government of India established under the Competition Act, 2002.
- This statement is correct. The Competition Commission of India is a statutory body, which means it has been established by an act of Parliament and derives its powers and functions from the Competition Act, 2002. The Act provides the legal framework for the CCI to regulate and promote competition in the Indian market.
Statement 2: It has the composition of a quasi-judicial body whose members are appointed by the Central Government.
- This statement is also correct. The CCI is a quasi-judicial body, which means it has the authority to make decisions and judgments similar to a court but is not a full-fledged judicial body. The members of the CCI are appointed by the Central Government. The Commission consists of a Chairperson and not less than two and not more than six other members. These members are chosen based on their qualifications and experience in the field of economics, law, business, or competition matters.
The CCI's quasi-judicial nature allows it to conduct inquiries, investigations, and adjudicatory proceedings related to anti-competitive practices, abuse of dominant position, and combinations (mergers and acquisitions) that may have an adverse effect on competition in the market. It has the power to impose penalties, issue cease and desist orders, and take other remedial actions to ensure fair competition in various sectors of the Indian economy.
In conclusion, both statements are correct. The Competition Commission of India is a statutory body established under the Competition Act, 2002, and it functions as a quasi-judicial body with members appointed by the Central Government.
The Competition Commission of India (CCI) is a statutory body of the Government of India established under the Competition Act, 2002. It is responsible for promoting fair competition in the Indian market and preventing anti-competitive practices.
Statement 1: It is a statutory body of the Government of India established under the Competition Act, 2002.
- This statement is correct. The Competition Commission of India is a statutory body, which means it has been established by an act of Parliament and derives its powers and functions from the Competition Act, 2002. The Act provides the legal framework for the CCI to regulate and promote competition in the Indian market.
Statement 2: It has the composition of a quasi-judicial body whose members are appointed by the Central Government.
- This statement is also correct. The CCI is a quasi-judicial body, which means it has the authority to make decisions and judgments similar to a court but is not a full-fledged judicial body. The members of the CCI are appointed by the Central Government. The Commission consists of a Chairperson and not less than two and not more than six other members. These members are chosen based on their qualifications and experience in the field of economics, law, business, or competition matters.
The CCI's quasi-judicial nature allows it to conduct inquiries, investigations, and adjudicatory proceedings related to anti-competitive practices, abuse of dominant position, and combinations (mergers and acquisitions) that may have an adverse effect on competition in the market. It has the power to impose penalties, issue cease and desist orders, and take other remedial actions to ensure fair competition in various sectors of the Indian economy.
In conclusion, both statements are correct. The Competition Commission of India is a statutory body established under the Competition Act, 2002, and it functions as a quasi-judicial body with members appointed by the Central Government.
Attention UPSC Students!
To make sure you are not studying endlessly, EduRev has designed UPSC study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in UPSC.
|
Explore Courses for UPSC exam
|
|
Similar UPSC Doubts
Top Courses for UPSCView all
Consider the following statements regarding the Competition Commission of India (CCI): It is a statutory body of the Government of India established under the Competition Act, 2002. It has the composition of aquasi-judicial body whose members are appointed by the Central Government.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?
Question Description
Consider the following statements regarding the Competition Commission of India (CCI): It is a statutory body of the Government of India established under the Competition Act, 2002. It has the composition of aquasi-judicial body whose members are appointed by the Central Government.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements regarding the Competition Commission of India (CCI): It is a statutory body of the Government of India established under the Competition Act, 2002. It has the composition of aquasi-judicial body whose members are appointed by the Central Government.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements regarding the Competition Commission of India (CCI): It is a statutory body of the Government of India established under the Competition Act, 2002. It has the composition of aquasi-judicial body whose members are appointed by the Central Government.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?.
Consider the following statements regarding the Competition Commission of India (CCI): It is a statutory body of the Government of India established under the Competition Act, 2002. It has the composition of aquasi-judicial body whose members are appointed by the Central Government.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements regarding the Competition Commission of India (CCI): It is a statutory body of the Government of India established under the Competition Act, 2002. It has the composition of aquasi-judicial body whose members are appointed by the Central Government.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements regarding the Competition Commission of India (CCI): It is a statutory body of the Government of India established under the Competition Act, 2002. It has the composition of aquasi-judicial body whose members are appointed by the Central Government.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?.
Solutions for Consider the following statements regarding the Competition Commission of India (CCI): It is a statutory body of the Government of India established under the Competition Act, 2002. It has the composition of aquasi-judicial body whose members are appointed by the Central Government.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for UPSC.
Download more important topics, notes, lectures and mock test series for UPSC Exam by signing up for free.
Here you can find the meaning of Consider the following statements regarding the Competition Commission of India (CCI): It is a statutory body of the Government of India established under the Competition Act, 2002. It has the composition of aquasi-judicial body whose members are appointed by the Central Government.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Consider the following statements regarding the Competition Commission of India (CCI): It is a statutory body of the Government of India established under the Competition Act, 2002. It has the composition of aquasi-judicial body whose members are appointed by the Central Government.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?, a detailed solution for Consider the following statements regarding the Competition Commission of India (CCI): It is a statutory body of the Government of India established under the Competition Act, 2002. It has the composition of aquasi-judicial body whose members are appointed by the Central Government.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? has been provided alongside types of Consider the following statements regarding the Competition Commission of India (CCI): It is a statutory body of the Government of India established under the Competition Act, 2002. It has the composition of aquasi-judicial body whose members are appointed by the Central Government.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Consider the following statements regarding the Competition Commission of India (CCI): It is a statutory body of the Government of India established under the Competition Act, 2002. It has the composition of aquasi-judicial body whose members are appointed by the Central Government.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? tests, examples and also practice UPSC tests.
|
|
Explore Courses for UPSC exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup