Competition (Amendment) Bill, 2022 passed in LS

GS Paper 3 Syllabus: Indian Economy   Source: TH  Context: The Lok Sabha on Wednesday cleared the Competition (Amendment) Bill, 2022   Aim of the Bill: Bring in greater regulation of corporates (particularly Big Tech firms) and promote and sustain competition in markets, protects consumers’ interest, and ensures freedom of trade for market participants.   …

Competition Commission of India (CCI)

GS Paper: 2 Topics Covered: Statutory, regulatory and various quasi-judicial bodies.   What to study? For prelims: objectives, composition and functions of CCI. For mains: issues associated with its functioning and the need for reforms.   Context:  The Competition (Amendment) Bill, 2022 has been introduced that aims to improve regulatory set-up by increasing the CCI’s accountability, …