Competition bill in budget session

Government had appointed an 11-member committee headed by former civil servant S V S Raghavan early this month to suggest a framework that would replace the existing Monopolies and Restrictive Trade Practices MRTP Act and supervise developments like mergers and acquisitions.

Krishnamurthy said the committee had been given time till March next to submit its report as against the initial deadline of three months.

quot;The government would like to have a framework for creating a conducive environment for the trade and industry to prosper without hurting the interest of consumers and the public at large,quot; hesaid.