Topic: Effects of liberalization on the economy, changes in industrial policy and their effects on industrial growth.
4. Critically examine The Competition (Amendment) Bill, 2022 in broadening the scope of ‘anti-competitive agreements’ and ensuring fair and competitive trade practises. (250 words)
Difficulty level: Tough
Reference: Live Mint , Insights on India
Why the question:
The Standing Committee on Finance recently tabled its report on the Competition (Amendment) Bill, 2022, in the Lok Sabha. The committee was directed to review the bill and submit its report within a short period of three months.
Key Demand of the question:
To write about the potential and limitations of the Competition (Amendment) Bill, 2022 in ensuring the fair and competitive trade.
Directive word:
Critically examine – When asked to ‘Examine’, we have to look into the topic (content words) in detail, inspect it, investigate it and establish the key facts and issues related to the topic in question. While doing so we should explain why these facts and issues are important and their implications. When ‘critically’ is suffixed or prefixed to a directive, one needs to look at the good and bad of the topic and give a fair judgment.
Structure of the answer:
Introduction:
Begin by mentioning the objectives behind Competition (Amendment) Bill, 2022.
Body:
First, write in detail the major features of the Competition (Amendment) Bill, 2022.
Next, write about the positive aspects of the bill in broadening the scope of ‘anti-competitive agreements’ and ensuring fair and competitive trade practise.
Next, write about the limitations of the bill.
Conclusion:
Conclude with way forward.
