Difference between mrtp act and competition act?

Answer 1

The Diffence between the MRTP Act 1969 and The Competition Act 2002 is as follows -

The MRTP Act was enacted in the Pre Liberalisation era whereas the Competition Act is enacted in the Post Liberalisation era;

The Object of the old Act was to prevent the economic concentration in one Common detriment, curbing unfair trade practices, ane to check monopolistic activities, on the other hand the object of the new Act is to promote and Sustaining Competition in the market and to to ensure the freedom of trade and to protect the interest of the consumer in whole;

The MRTP Commission has the advisory role only whereas the later has some effective role including that of initiating suo moto actions and impose punishments to the entities having some adverse effect in the market.