The Corporate Affairs Minister, Mr Veerappa Moily, is miffed over the growing calls from industries to be exempted selectively from the scope of the competition law.
After the banking regulator Reserve Bank of India made a pitch for exempting bank mergers from the ambit of the Competition Commission of India (CCI), there have been demands from other sectors, especially those like telecom which have their own regulators.
Insurance and shipping players are also reportedly lobbying through their ministries to be exempted from CCI scrutiny.
Exempting bank mergers from the ambit of competition law is still not a reality as the concerned amendment is yet to be approved by Parliament.
There must be a competition culture in the country, Mr Moily said at an Assocham event here. If this trend of various ministries seeking carve-outs were to continue, then there won’t be any need for a competition commission, he rued.
Later, Mr Moily told reporters that the proposed Competition (amendment) Bill has now been referred to a Group of Ministers headed by the Finance Minister, Mr Pranab Mukherjee.
On Companies Bill 2011, the Minister said that the Standing Committee on Finance had firmed up itsviews, but the report is not ready as yet.