News-CRUX-10     23rd December 2023        

Context: The Competition Commission of India (CCI) seeks comments on the draft of Competition Commission of India (Determination of Turnover or Income) Regulations, 2023.

oThe CCI proposes the draft CCI (Determination of Turnover or Income) Regulations, 2023 which provide for the determination of turnover or income for the purposes of Section 27(b) and Section 48 of the Act.

Competition Commission of India (CCI) 

  • About: It is a quasi-judicial body which gives opinions to statutory authorities and also deals with other cases.
  • Establishment: March 2009 by the Government of India under the Competition Act, 2002for the administration, implementation, and enforcement of the Act.
  • Composition of the CCI: One Chairperson and six Members who shall be appointed by the Central Government.

oThe Chairperson and other Members shall be whole-time Members

  • Objectives

oIt will eliminate practices having adverse effects on competition.

oTo Promote and sustain competition.

  • Functions

oThe role of the CCI involves eradicating practices that negatively impact competition, safeguarding consumer interests, and ensuring the freedom of trade within Indian markets.

oThe CCI provides opinions on competition issues upon receiving references from statutory authorities.

oThe CCI engages in competition advocacy, raises public awareness, and provides training on competition issues.