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The Cabinet today approved rightsizing of antitrust watchdog Competition Commission of India (CCI) by halving the number of its members to three.
CCI currently has one chairperson and six members. It will now have one chairperson and three members.
This, according to an official statement, would be done "by not filling the existing vacancies of two members and one more additional vacancy, which is expected in September when one of the present incumbents will complete his term."
The Cabinet headed by Prime Minister Narendra Modi approved the rightsizing of CCI in "pursuance of the Government's objective of 'minimum government - maximum governance'."
This would lead to "faster turnaround in hearings" that is expected to result in speedier approvals.
This would stimulate the business process of corporate and result in greater employment opportunities in the country, it added.
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