FM calls for right balance of regulations, freedom File Photo
News Updates

FM calls for right balance of regulations, freedom

Finance Minister on Tuesday said the ability of CCI to strike a balance between regulatory vigilance and pro-growth mindset will be integral to building a resilient, equitable, and innovation-driven economic framework

PTI

New Delhi: Highlighting the importance of competitive markets, Finance Minister Nirmala Sitharaman on Tuesday said the ability of CCI to strike a balance between regulatory vigilance and pro-growth mindset will be integral to building a resilient, equitable, and innovation-driven economic framework.

At the 16th Annual Day function of the Competition Commission of India (CCI), Sitharaman also said that there needs to have the right balance of regulations and freedom.

PSU Watch is now on Whatsapp Channels. Click here to join

CCI works to promote fair competition and prevent competitive practices in the marketplace. Besides, mergers and acquisitions beyond a certain threshold need approval of the watchdog.

"The ability of the Commission to strike a balance between regulatory vigilance with a pro-growth mindset will be integral to building a resilient, equitable, and innovation-driven economic framework...," the minister said, highlighting the efforts to become Viksit Bharat by 2047.

Touching upon the emergence of new technologies, Sitharaman, who is also in charge of the Corporate Affairs Ministry, said artificial intelligence technologies raise novel questions about market power, transparency, data access, algorithmic biases, and the scope of competitive harm.

"Free and fair digital markets are challenged by the emergence of gatekeeper platforms, asymmetries in data access, and cross-border implications of digital business models.

"The rise of cross-border digital monopolies demands global cooperation and agile regulation," she noted.

The regulatory framework should also help swift approvals for combinations that do not harm competition, the minister said.

At the event, the minister also released the Diagnostic Toolkit for Public Procurement Officers as well as FAQs on combinations.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)

Stock markets trade higher ahead of RBI's interest rate decision

IREDA reports 86% growth in loan sanctions, loan book rises to Rs 84,445 crore in H1 FY26

PM Surya Ghar Muft Bijli Yojana reaches 20 lakh households: Joshi

SJVN commissions 128.88 MW solar capacity at Bikaner project

BHEL gets two new orders worth Rs 13-15K crore