 statement of objects and reasonsindian industries are poised to be wiped out by unfair trade practices being adopted by the multinational companies they are taking advantage of their deep pockets rendering indian cos to incurhuge losses to drive the out of business in the aftermath of liberalisation and globalisation of economy competition has increased leading to increase in the number of foreign products available resulting reduction of prices there are instances in india, where mncs have put their prices down to make others' business down if it is analysed, it is nothing but a predatory pricing policy being adopted by these companies to make the indian industry sick, so that mncs can buy them a similar trend in south east asia was observed last june with foreign competition really hotting up and engulfing indian industry clearly such a governing body is required urgently for protecting indian cos from fierce competition with mncs hence this bill santosh bagrodia financial memorandumclause 3 provides for the establishment of a national fair practices commission clause 4 provides for the secretariat of the commission the bill, if enacted, will involve expenditure from the consolidated fund of india it is estimated that a sum of rs two crores may be invovled as recurring expenditure per annum a sum of rs five crores may also involve as non-recurring expenditure memorandum regarding delegated legislationclause 10 of the bill empowers the central government to make rules for carrying out the provisions of the bill as the rules to be made relate to matters of details only, the delegation of legislative power is of a normal character