The Competition Commission of India (CCI) effectively reflects a shift from the era of Licence Raj to a conducive regulatory ambience for enhancing consumer welfare by encouraging competition in the market. Discuss.
Introduction
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Main Body
Situation earlier: (1) Bureaucratic misuse of power - they gave license based on personal preferences. (2) Licence Raj - licence Raj - only powerful got permission to establish industry. (3) Monopoly - created monopoly in product like packed food, drinks, heavy industries like steel, leather, mining etc. Initiatives by Competition Commission of India: (1) Checked monopoly - initiatives to small businessman to establish trade and industry. (2) End to licence system: Fast liberalization reform of 1991 - licence system reduced gradually. (3) Monetary incentives like tax free income to budding businesses. (4) Supported startups - India became leading successful startup hub Rankset 3. (5) Ensure fair trade practices: linked Google. (6) Strengthened consumers - a Consumer forum - a man was paid 10 back, he was charged extra by IRCT.
Thus, commission took various steps to ensure that competition and fair practices govern the market and strengthen consumers.
— Surabhi Yadav · AIR 14
Conclusion
17 words
Surabhi Yadav
Statutory, Regulatory and Quasi-judicial Bodies
Regulatory Bodies
Competition Commission of India - Shift from Licence Raj to Competitive Market
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1
Paragraphs
analytical and explanatory
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