New Delhi, April 4 (IANS) The Union Cabinet on Wednesday approved the downsizing of the Comepetition Commission of India (CCI) from its existing seven-member composition to a four-member one, including the Chairperson.
A Corporate Affairs Ministry release following the cabinet meeting said that the reduction in the fair trade regulator collegium was being effected by not filling the existing vacancies of two members, as well of an additional vacancy is expected in September 2018, when a current incumbent is due to complete his term.
“The proposal is expected to result in reduction of three posts of members of the Commission in pursuance of the governments objective of ‘minimum government – maximum governance'”, it said.
Outlining the background to the decision, the ministry said that as part of the objective of easing the mergers and amalgamation process in the country, it had “revised de minimis levels in 2017, which has led to reduction in the notices that enterprises are mandated to submit while entering into combinations, thereby, reducing the load on the Commission”.
“In several major jurisdictions such as in Japan, US and UK, competition authorities are of a similar size,” it said.