The correct answer is: D. 1970
The Monopolies and Restrictive Trade Practices Act (MRTP Act) was enacted in India in 1969. The Act was amended in 1973, 1984, 1991, and 2002. The MRTP Act was repealed in 2002 and replaced by the Competition Act, 2002.
The MRTP Act was enacted to prevent the concentration of economic power in the hands of a few individuals or companies, to promote and protect competition, to regulate restrictive trade practices, and to provide for the establishment of a Monopolies and Restrictive Trade Practices Commission (MRTPC).
The MRTP Act was a landmark legislation in the history of Indian economic policy. It was the first legislation in India to deal with the issue of monopolies and restrictive trade practices. The Act was a significant step towards promoting competition and protecting consumers in India.
The MRTP Act was repealed in 2002 and replaced by the Competition Act, 2002. The Competition Act is a more comprehensive and modern legislation than the MRTP Act. The Competition Act provides for a more effective and efficient framework for regulating competition in India.
The following are the options for the question:
- A. 1949: The Monopolies and Restrictive Trade Practices Act (MRTP) was not enacted in 1949.
- B. 1959: The Monopolies and Restrictive Trade Practices Act (MRTP) was not enacted in 1959.
- C. 1969: The Monopolies and Restrictive Trade Practices Act (MRTP) was enacted in 1969.
- D. 1970: The Monopolies and Restrictive Trade Practices Act (MRTP) came into force from the year 1970.