Cartelization going to be a challenge: FM


PTI, May 20, 2022, 12:08 PM IST

New Delhi: Finance Minister Nirmala Sitharaman on Friday flagged concerns about possible cartelization in markets and stressed the need to look into the causes of the short supply of commodities.

Speaking at the 13th annual day function of the Competition Commission of India (CCI), the minister also said that the regulator needs to have a ”proactive understanding” of mergers and acquisitions.

”Cartelisation is going to be a challenge…,” the minister said.

While mentioning rising commodity prices due to various factors, she said there is a need to look into the causes of the short-supply situation.

Her remarks come against the backdrop of spiraling inflation.

Sitharaman, who is also in charge of the Corporate Affairs Ministry, said the CCI needs to be sensitive as well as firm.

Corporate Affairs Secretary Rajesh Verma said the CCI has made critical interventions to deal with anti-competition matters.

He said the recommendations made by the Competition Law Review Committee (CLRC) are being examined.

Among other recommendations, the CLRC, which had submitted its report to the government in July 2019, pitched for a settlement mechanism to address antitrust disputes.

Amendments to the Competition Act are also on the cards.

Speaking at the function, CCI Chairperson Ashok Kumar Gupta said that over the last 13 years, the regulator has developed a sound body of jurisprudence across sectors.

Sitharaman virtually inaugurated the CCI’s Eastern regional office in Kolkata. This is the second regional office after the Southern regional office in Chennai was inaugurated last year.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

BJP stages protest against Karnataka govt over Waqf properties row

Youth attempts suicide after being humiliated in public for wearing ripped jeans in Belthangady

India crawl to 51 for 4 after losing top-order

Nursing student suicide: Three students arrested in Kerala

Nadda’s letter to Kharge full of falsehoods: Cong

10 month baby gets new heart, new life

Actress Kasthuri released from jail, says ‘I thank those who made me raging storm’

MUST WATCH

Christmas Cake Fruit Mixing

DK Shivakumar

Rose Cultivation

Geethotsava

Naxal Operation


Latest Additions

SC notice to Gujarat govt on Asaram’s plea seeking suspension of sentence in 2013 rape case

BJP stages protest against Karnataka govt over Waqf properties row

US charges against Adani, 7 others could lead to arrest warrants, extradition bid: attorney

Youth attempts suicide after being humiliated in public for wearing ripped jeans in Belthangady

Baku climate talks: The ‘X’ factor that could determine future of Global South

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.