Augustine Peter Current Affairs - 2020
Sangeeta Verma, a former Indian Economic Services (IES) officer has joined the Competition Commission of India (CCI) as a member. The order of the Ministry of Corporate Affairs states that the central government has appointed Sangeeta Verma as the member of CCI for a period of 5 years from the date of assumption of charge of the post, or until further orders, whichever is earlier.
The CCI is now at its full strength with Ashok Kumar Gupta as chairperson, Sangeeta Verma, Augustine Peter and UC Nahta as members. In April the union cabinet had reduced the number of members of the competition commission of India from six to three.
Competition Commission of India (CCI)
Competition Commission of India (CCI) aims to create and sustain fair competition in the economy that will provide a ‘level playing field’ to the producers and make the markets work for the welfare of the consumers.
The Competition Commission of India (CCI) was established by the central government in 2003 under the provisions of the competition act 2002. CCI aims to establish a robust competitive environment through:
- Proactive engagement with all stakeholders, including consumers, industry, government and international jurisdictions.
- Being a knowledge-intensive organization with high competence level.
- Professionalism, transparency, resolve and wisdom in enforcement.
The vision of the CCI is “To promote and sustain an enabling competition culture through engagement and enforcement that would inspire businesses to be fair, competitive and innovative; enhance consumer welfare, and support economic growth”.