"If the committee on competition policy submits its report latest by March 31, 2000, we would be able to table the Bill during the budget session of Parliament and get it passed," DCA secretary T S Krishnamurthy said.

Government had appointed an 11-member committee headed by former civil servant S V S Raghavan early this month to suggest a framework that would replace the existing Monopolies and Restrictive Trade Practices (MRTP) Act and supervise developments like mergers and acquisitions.

Krishnamurthy said the committee had been given time till March next to submit its report as against the initial deadline of three months.

"The government would like to have a framework for creating a conducive environment for the trade and industry to prosper without hurting the interest of consumers and the public at large," hesaid.