New Chairman of Competition Commission of India (CCI) 2023
The Central Government has appointed Ravneet Kaur as the new Chairperson of the Competition Commission of India (CCI). Sangeeta Verma was appointed acting chairperson of the Competition Commission of India (CCI) after her predecessor Ashok Kumar Gupta stepped down. Ashok Kumar Gupta took over as CCI chairman in November 2018. The appointment of IAS officer Ravneet Kaur will be for a period of five years from the date of assumption of charge or till the date of attaining the age of 65 years or until further orders. The chairman will get a consolidated salary of Rs 4,50,000 per month without house and car.
Information about Ravneet Kaur
Ravneet Kaur is a 1988 Punjab Cadre IAS officer. Ravneet Kaur has held various government positions in her career spanning over two decades. He served as Director in the Department of Economic Affairs for two years from 2006-2008. He was also appointed as Joint Secretary in the Department of Financial Services from 2008 to 2011. Ravneet Kaur also served as the Principal Secretary to the Government of Punjab for 11 months from 2012 to 2013. Ravneet Kaur was the Chairperson and Managing Director (CMD) of India Tourism Development Corporation from 2017-2019.
Competition Commission of India
The Competition Commission of India (CCI) is the main national competition regulator in India. It is a statutory body within the Ministry of Corporate Affairs and is responsible for enforcing the Competition Act, 2002 to promote competition and prevent activities having an adverse effect on competition in India.
CCI was established on 14 October 2003. It consists of a chairman and six members appointed by the central government. The headquarter of the commission is in New Delhi and it has four regional offices located at Mumbai, Kolkata, Chennai and Bengaluru.
Powers and Functions of CCI:
- To investigate cases of anti-competitive agreements and abuse of dominant position.
- Issuing directions to companies to cease and desist from anti-competitive practices.
- Imposition of penalty on companies violating the Competition Act.
- To promote competition in the market by issuing guidelines and advisories to businesses.
- Educating consumers about their rights and protecting them from unfair trade practices.
CCI has played an important role in promoting competition in the Indian market. It has investigated and cracked down on a number of anti-competitive practices, including cartels, price-fixing and abuse of dominant position. CCI has also issued several guidelines and advisories to help businesses comply with the Competition Act.
The CCI has been praised for its work in promoting competition in the Indian market. This has been credited with helping to reduce prices, improve product quality, and increase consumer choice. CCI is also credited with helping attract foreign investment in India. It plays an important role in promoting competition and protecting consumers.