The proposed National Competition Policy, aimed at achieving the highest sustainable level of economic growth, has not been formulated, Parliament was informed today.
To a query in Rajya Sabha, whether government has formulated and implemented the competition policy to achieve the highest sustainable level of economic growth, Corporate Affairs Minister Arun Jaitley replied in negative.
After discussions for many years, a draft national competition policy was prepared by the government in 2011.
Earlier in January, Senior BJP leader and former Finance Minister Yashwant Sinha had said competition policy would help the manufacturing sector grow in a healthy environment.
He had said that competition policy is important to tackle entry barriers and has a much larger objective while competition laws are essential tools to act against unfair practices.
