In which among the following years, the MRTP act became effective?
[A] 1970
[B] 1972
[C] 1975
[D] 1978
Show Answer
Correct Answer: A [1970]
Notes:On the basis of recommendation of Dutt Committee, MRTP Act was enacted in 1969 to ensure that concentration of economic power in hands of few rich. The act was there to prohibit monopolistic and restrictive trade practices.
The Monopolies and Restrictive Trade Practices Act (MRTP Act) was passed by Parliament of India on 18 December 1969 and got president’s assent on December 27, 1969. But it came into force from June 1, 1970.
