Q. With reference to the Competition Commission of India (CCI), consider the following statements:
1.It is tasked with ensuring fair competition in the market by eliminating anti-competitive practices and protecting consumer interests.
2.The Chairperson and members of the CCI are appointed by the President of India.
3.Under the Competition Act 2002, the CCI possess power to issue licenses for new businesses.
How many of the statements given above are correct?
Answer: A
Notes:
Explanation –
Statement 1 is correct. The CCI is responsible for promoting fair competition, eliminating anti-competitive practices, and protecting consumer interests.
Statements 2 and 3 are incorrect. The Chairperson and members of the CCI are appointed by the Central Government. The CCI does not have the power to issue licenses for new businesses. Its role is to regulate competition and prevent anti-competitive practices.
Source: The Hindu
