Blog

PIB – May 21 , 2019

ECONOMY

Topic covered- Statutory, regulatory and various quasi-judicial bodies

Competition Commission of India

Context

  • The Competition Commission of India (CCI) celebrated its 10th Annual Day on 20th May.
  • This day marks the notification of the substantive enforcement provisions of the Competition Act, 2002.

What is the Competition Commission of India?

  • Competition Commission of India (CCI) is a quasi-judicial statutory body of the Government of India responsible for enforcing The Competition Act, 2002.
  • After the Competition Act, 2002 came into existence a Competition Commission of India (CCI) and Competition Appellate Tribunal (CAT) was established.
  • It was established on 14 October 2003.
  • It became fully functional in May 2009.

Composition of CCI

  • The CCI is composed of a Chairperson and 6 members.
  • The members of CCI are appointed by the Central Government.
  • The CCI acts as a market regulator to check on the ill competitive practices in India.

Objectives of the Competition Commission of India

  • To prevent practices having adverse effect on competition.
  • Make the markets work for the benefit and welfare of consumers.
  • To promote and sustain competition in markets.
  • To protect the interests of consumers.
  • Ensure fair and healthy competition in economic activities in the country for faster and inclusive growth and development of economy.
  • Implement competition policies with an aim to effectuate the most efficient utilization of economic resources.

The Competition Appellate Tribunal

  • The Competition Appellate Tribunal (CAT) was formed in 2009.
  • It is a fully empowered body by the Constitution of India.
  • The final appeal after this tribunal can be made in the Supreme Court of India.

The Competition Act, 2002

  • The idea of Competition Commission was conceived and introduced in the form of The Competition Act, 2002.
  • It was enacted to promote competition and private enterprises especially in the light of 1991 Indian economic liberalization.
  • The Competition Act, 2002, is amended by the Competition (Amendment) Act, 2007.
  • The Act prohibits anti-competitive agreements, abuse of dominant position by enterprises and regulates combinations (acquisition, acquiring of control and Merger and acquisition), which causes or likely to cause an appreciable adverse effect on competition within India.
  • The Commission is also required to give opinion on competition issues on a reference received from a statutory authority established under any law and to undertake competition advocacy, create public awareness and impart training on competition issues.

Topic covered- Social justice

Vayoshreshtha Samman

Context

  • Nominations for Vayoshreshtha Samman- National Awards for Senior Citizens 2019 for individuals/institutions have been invited.

About Vayoshreshtha Samman

  • Vayoshreshtha Samman is a Scheme of National Awards instituted by the Ministry of Social Justice & Empowerment.
  • It comes under the Department of Social Justice & Empowerment.
  • It was initially in started in 2005 and was upgraded to the status of National Awards in 2013.
  • It is awarded for institutions involved in rendering distinguished service for the cause of elderly persons especially indigent senior citizens and to eminent citizens in recognition of their service/achievements.
  • The awards are presented on 1st of October every year.

Topic covered- International relations

India – Indonesia Coordinated Patrol (CORPAT)

Context

  • Myanmar Navy Ship for the ‘Opening Ceremony’ of the 8th Indo-Myanmar coordinated patrol (IMCOR), at Andaman and Nicobar Command.

About CORPAT

  • The CORPAT is an initiative between the Indian and Myanmar navies.
  • It is meant to address issues of terrorism, illegal fishing, drug trafficking, human trafficking, poaching and other illegal activities inimical to interest of both nations.
  • Started in Mar 2013, the CORPAT series has enhanced the mutual understanding and fostered improved professional interaction between the two navies for maritime interoperability.

Significance of CORPAT

  • India currently carries out CORPATs with four regional navies: Myanmar, Indonesia, Thailand and, most recently, Bangladesh.
  • China currently rides roughshod over the maritime and territorial claims of South China Sea and East China Sea countries – including Brunei, Indonesia, Malaysia, Vietnam and the Philippines.
  • In this context, CORPAT slots neatly into New Delhi’s overarching policy rubric of SAGAR (Security and Growth for All in the Region) and its “Look East” and “Act East”
  • With this backdrop, the navy conducts diplomacy through joint naval exercises, port visits and discussion forums like the Indian Ocean Naval Symposium (IONS), which currently has 35 member states, mostly from the Indian Ocean littoral.

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