Under the Arbitration and Conciliation Act, 1996, what is the primary purpose of arbitration?
Arbitration is a method of alternative dispute resolution (ADR) that provides a private and efficient way to resolve civil disputes. It allows parties to submit their disputes to one or more arbitrators who make a binding decision, known as an arbitral award. This process is an alternative to traditional litigation in court and is often chosen for its speed, flexibility, and confidentiality.
The Expenditure Reforms Commission was formed on February 28, 2000 to review the entire expenditure pattern of the Central Government.
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