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Which committee suggested the enactment of the Competition Act, 2002?
  • a)
    Vijay Kelkar Committee
  • b)
    Rangarajan Committee
  • c)
    S. V. S. Raghavan Committee
  • d)
    More than one of the above
  • e)
    None of the above
Correct answer is option 'C'. Can you explain this answer?
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Most Upvoted Answer
Which committee suggested the enactment of the Competition Act, 2002?a...
The correct answer is S. V. S. Raghavan Committee.
Key Points
S. V. S. Raghavan Committee:
  • S. V. S. Raghavan is an Indian industrialist and the former head of Bharat Business International Limited (BBIL).
  • The Monopolies and Restrictive Trade Practices Act, 1969 (MRTP Act) was repealed and replaced by the Competition Act, 2002, on the recommendations of the Raghavan committee.
  • In view of rapid globalisation, the government embarked upon a policy of promoting competition and framed a competition policy in 2000 following the recommendations of the Raghavan Committee in October 1999.
​Competition Act, 2002:
  • The Competition Act, of 2002  is a law that governs commercial competition in India.
  • It replaced the erstwhile Monopolies and Restrictive Trade Practices Act, of 1969.
  • The Competition Act aims to prevent activities that have an adverse effect on competition in India.
  • The Act mainly covers these aspects;
    • Prohibition of anti-competitive agreements.
    • Prohibition of abuse of dominance.
    • Regulation of combination (acquisition, mergers, and amalgamation of a certain size)
    • Establishment of the competition commission of India.
    • Power and functions of the competition commission of India.
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Which committee suggested the enactment of the Competition Act, 2002?a)Vijay Kelkar Committeeb)Rangarajan Committeec)S. V. S. Raghavan Committeed)More than one of the abovee)None of the aboveCorrect answer is option 'C'. Can you explain this answer?
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