Business Ethics and Corporate Governance, Second Edition

OBJECTIVES OF THE BILL

The basic objectives of the Competition Bill designed to replace the MRTP Act were the following:

1. Encourage competition.
2. Prevent abuse of dominant position.
3. Protect the consumer.
4. Ensure a level playing field to participate in the Indian economy.

The spirit behind the Competition Bill is that ‘big’ is no more bad, but hurting competition and consumer interest is. For instance, S. Chakravarty, a member of the Raghavan Committee pointed out: ‘Size is no longer the issue. It could become only when consumer interest is compromised.’