. As a consequence of economic reforms, the MRTP Act 1969

As a consequence of economic reforms, the MRTP Act 1969 was replaced by the Competition Act the year.

A: 2001

B: 2002

C: 2003

D: 2004

Best Answer

Explanation:

The Competition Act replaced the Monopolies and, Restrictive Trade Practices (MRTP) Act in 2002.
It established a new authority, known as the Competition Commission of India, to replace the MRTP.
The CCI is responsible for enforcing the Competition Act, which prohibits certain agreements, and abuse of dominant position by enterprises, and regulates combinations of acquisition, acquiring of control, and M&A, likely to cause an appreciable contrary effect on competition within India.

Final answer:

Hence, the correct option is B. 2002.

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