RAS question
Competition Commission of India (CCI) was established under:
Correct answer: (D) Competition Act, 2002.
The Competition Commission of India was established under the Competition Act, 2002.
Explanation
The Competition Commission of India belongs to the framework of the Competition Act, 2002, not to consumer, securities, or company law. CCI was established under this Act and became operational in 2009. The official CCI page explains that the Competition Act, 2002, as amended in 2007, prohibits anti-competitive agreements, abuse of dominant position, and regulates combinations such as acquisitions, control, and M&A that cause or are likely to cause an appreciable adverse effect on competition in India. The Act's objectives are sought to be achieved through CCI. That is why the Act, rather than a sector-specific statute, is the correct anchor for the Commission.
Why the other options are wrong
- (A) The Consumer Protection Act concerns consumer protection, whereas CCI belongs to the competition-law framework.
- (B) The SEBI Act, 1992 relates to SEBI, while CCI is a separate institution linked here to the Competition Act, 2002.
- (C) The Companies Act, 2013 is not the establishing law for CCI; the Competition Act, 2002 is the governing Act.
Concept
This tests statutory bodies in Indian Economy, especially which regulator belongs to which parent law. It recurs in RAS because competition policy, market regulation, and institutional mandates are standard governance-economy themes.