Cabinet clears rightsizing Competition Commission of India (CCI)

Cabinet clears rightsizing Competition Commission of India (CCI)

The Cabinet on Wednesday gave its approval for trimming the strength of the country's competition watchdog Competition Commission of India (CCI) from the present six members to three, DHNS reports from New Delhi.

"The proposal is expected to result in a reduction of three posts of members of the commission in pursuance of the governments objective of minimum government maximum governance," an official statement said after the Cabinet meeting chaired by Prime Minister Narendra Modi.

It said the move will also lead to faster hearings and speedier approvals, thereby stimulating the business processes of corporates and resulting in greater employment opportunities in the country.

"The Union Cabinet has given its approval for rightsizing the CCI from one chairperson and 6 members to one chairperson and three members by not filling the existing vacancies of two members and one more additional vacancy, which is expected in September 2018 when one of the incumbents will complete his term," it said.

The CCI has been functioning as a collegium right from its inception. In several major jurisdictions such as in Japan, USA and UK competition authorities are of a similar size.

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