. 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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