Mumbai, Oct 16 (UNI) The Chairman of Economic Advisory Council to the Prime Minister Dr C Rangarajan today reiterated that a harmonised competitive environment with competition favouring regulations were needed.
Stressing on the requirement of formalised market structure in the country to avoid rising near monopoly situation, Dr Rangarajan here today said the competitive laws under prudential standards and a public body should be formed to maintain harmonised competitive market environment.
He said depending upon the need of the sectoral regulators and which sector really needs regulator, certain norms were required.
Sectoral regulation and a relation between sectoral regulator and sectoral competition should be maintained, Dr Rangarajan said.
''We learn from the experience of the other countries regarding the relative competition, he said, adding that any kind of monopoly in the market should be restricted.