Focus: GS II- Polity and Governance (Government Interventions)
Why in news?
Union Minister of Finance and Corporate Affairs virtually commemorated the 12th Annual Day of the Competition Commission of India.
About competition commission of India:
Nodal: Ministry of corporate affairs
Competition Commission of India (CCI) is a statutory body of the Government of India responsible for enforcing the Competition Act, 2002.
Competition Commission of India aims to establish a robust competitive environment.
- Through proactive engagement with all stakeholders, including consumers, industry, government and international jurisdictions.
- By being a knowledge intensive organization with high competence level.
- Through professionalism, transparency, resolve and wisdom in enforcement.
Composition of CCI
- The Commission consists of one Chairperson and six Members.
- The commission is a quasi-judicial body .
- Eligibility of members: The Chairperson and every other Member shall be a person of ability, integrity and standing and who, has been, or is qualified to be a judge of a High Court, or, has special knowledge of, and professional experience of not less than fifteen years in international trade, economics, business, commerce, law, finance, accountancy, management, industry, public affairs, administration or in any other matter which, in the opinion of the Central Government, may be useful to the Commission.