Competition policy to bring down inflation: Moily

Hyderabad: The government is all set to come out with National Corporate Governance Policy and National Competition Policy by the end of this fiscal, Minister for Corporate Affairs Veerappa Moily said here today.

He also said that proper implementation of National Competition Policy will help the economy by bringing down the inflation considerably, and help ensure healthy pricing, apart from preventing cartel-forming.

"We expect the policy before the cabinet somewhere in February-end or March first week, and it will be announced by March," Moily told reporters on the sidelines of awards function of Institute of Company Secretaries of India.

He said the implementation of competition policy had brought down petroleum prices by at least half in the United States. The draft competition policy had been sent to the Chief Ministers and was awaiting replies, he said. "We are also coming out with National Corporate Governance Policy. This could be a second wave of reforms after the economic reforms in 1991," the minister said.

Azim Premji, Wipro founder, was honoured with ICSI Lifetime Achievement award at the function, while Gail India and Hindustan Unilever Limited were adjudged as Best Governed Companies.