(a) whether the Government has implemented or proposed to implement National Competition Policy (NCP) to achieve highest sustainable levels of economic growth in the near future;
(b) if so, the details thereof;
(c) if not, the steps taken/being taken by the Government to formulate National Competition Policy; and
(d) the steps taken by the Government to make our country as an attractive destination for foreign investors during the last three years?
THE MINISTER OF STATE FOR FINANCE (SHRI ANURAG SINGH THAKUR)
AND CORPORATE AFFAIRS
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(a) to (c) No, Sir.
(d) So far as the Competition Act, 2002 (the Act) is concerned, the Government has been taking various steps from time to time to promote competition, harness efficiency and ensure fair play in the Indian Market. In order to promote ease of doing business and to expedite the process of approval for combinations, the Government vide notification No. S.O. 988(E) dated 27.03.2017 (“2017 De-minimus Financial Thresholds”) has exempted enterprises being party to any form of combination as described under Section 5 of the Act where the value of assets being acquired, taken control of, merged or amalgamated is not more than INR 350 Crores in India or turnover not more than INR 1000 Crores in India from the provisions of Section 5 of the Act for a period of 5 years. Similarly, the Government vide notification No. S.O. 2039(E) dated 29.06.2017 has exempted every person or enterprise who is a party to a combination as referred to in section 5 of the Act from giving notice within thirty days mentioned in sub-section (2) of section 6 of the Act, subject to the provisions of sub-section (2A) of section 6 and section 43A of the Act, for a period of five years. Further, to make the combinations approval faster, the Competition Commission of India (CCI) has introduced an automatic system of approval for certain classes of combinations under ‘Green Channel’ in August, 2019.
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