Arrange the following items in correct sequence:
(A) Competition Act
(B) FEMA
(C) FERA
(D) MRTP
Choose the correct answer from the options given below:
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → (D), (C), (B), (A)
D. MRTP Act (Monopolies and Restrictive Trade Practices Act): This act was passed in 1969 to prevent monopolies and unfair trade practices.
C. FERA (Foreign Exchange Regulation Act): Enacted in 1973, this act regulated foreign exchange in India.
B. FEMA (Foreign Exchange Management Act): This act replaced FERA in 1999 and brought about a more liberalized approach to foreign exchange management.
A. Competition Act: This act replaced the MRTP Act in 2002 and established a more comprehensive framework for promoting competition and protecting consumer interests.
Note: This Question is from Pre Rationalised NCERT Book (2021-22 Edition).