Question:
The Monopolies and Restrictive Trade Practices (MRTP) Act was repealed by:
The Monopolies and Restrictive Trade Practices (MRTP) Act was repealed by:
Updated On: Aug 12, 2025
- Competition Act
- Consumer Protection Act
- Foreign Trade (Development and Regulation) Act
- Liberalization Policy of the Government
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The Correct Option is A
Solution and Explanation
The Monopolies and Restrictive Trade Practices (MRTP) Act was repealed by the Competition Act. The MRTP Act, enacted in 1969, was designed to prevent monopolistic and restrictive trade practices in India. However, with the economic liberalization of India in the 1990s, the need for a more modern and comprehensive competition law arose.
As a result, the Competition Act was passed in 2002 to replace the MRTP Act. The Competition Act aimed to promote and sustain competition in markets, protect consumer interests, and ensure freedom of trade. The Act established the Competition Commission of India (CCI) to regulate anti-competitive practices such as cartels, abuse of dominant positions, and mergers that could adversely affect competition in the market.
The correct answer is: Competition Act, as it replaced the MRTP Act to address the evolving needs of the Indian economy in a globalized environment.
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