The central government has appointed Ravneet Kaur as the chairperson of the Competition Commission of India (CCI), filling the position that has been vacant since October 2022. The previous chairperson, Ashok Kumar Gupta, demitted office in October 2022. In the interim, CCI Member Sangeeta Verma has been acting as the Chairperson.
Addressing the Challenges Faced by the CCI
India’s competition watchdog, the CCI, has been facing a severe shortage of resources, hindering its ability to effectively regulate major companies in the country. The CCI has been functioning with only two members, which is half of its sanctioned strength and falls short of the required quorum. This shortage of manpower has been further exacerbated by the absence of a chairperson for the past four months, despite the search for a replacement starting seven months ago.
Expanding the CCI’s Regulatory Mandate
Recent amendments to the Competition Act have expanded the scope of the CCI’s regulatory mandate. The commission is now authorized to investigate transactions that meet specific value thresholds for acquisitions and can negotiate settlements with businesses and other parties involved in cases of anti-competitive agreements and abuse of dominance.
Strengthening Manpower and Infrastructure
To address the challenges faced by the CCI and ensure effective regulatory oversight, the government is actively recruiting more members to increase the commission’s manpower. The expansion of the CCI’s regulatory responsibilities necessitates adequate resources, including manpower and infrastructure, to handle the growing demands.
Ravneet Kaur, a 1988 Punjab cadre IAS officer, has been appointed as the chairperson of the CCI. As per the official order dated May 15, her appointment will be for a period of five years from the date of assuming charge, until the age of 65, or until further orders, whichever is the earliest. The order specifies a consolidated salary of Rs 4,50,000 per month for the Chairperson, without a house or car provided.
By addressing the vacancy in the regulatory body’s leadership and increasing the number of members, Ravneet Kaur’s appointment aims to fill the leadership void, strengthen the CCI, and enable the commission to meet the quorum requirement for issuing orders.
The Hindustan Herald Is Your Source For The Latest In Business, Entertainment, Lifestyle, Breaking News, And Other News. Please Follow Us On Facebook, Instagram, Twitter, And LinkedIn To Receive Instantaneous Updates. Also Don’t Forget To Subscribe Our Telegram Channel @hindustanherald