"The competition helps everyone through its multifarious benefits, including increase in productivity, efficient allocation of resources, improvement in quality of goods and services, reduction in costs etc," Mukherjee said at a conference jointly organized by the Competition Commission of India (CCI) and the CII.
The Finance Minister noted that the benefits of competition in India are for everyone to see in various sectors, including telecommunication, civil aviation.
"The benefits of competition have not yet reached the agriculture sector fully. The prices received by farmers continue to be much lower than that paid by consumers," he said.
While enhancing healthy competition in other sectors, there is a special need to focus on agriculture sector, suggested the Finance Minister.
Salman Khurshid, Minister of Corporate Affairs & Minority Affairs, reaffirmed the government"s commitment to develop stable, efficient, transparent and acceptable competition regime to help the country attain freedom from poverty.
"We are now prepared for a full fledged competition, when the economy has started growing at a robust pace to fulfill needs of the millions of people in the country," Khurshid added.