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🔗 Source: drishtiias.com
📊 Size: 267 KB
👤 Author: Drishti IAS
⬇️ Downloads: 100

Summary

The Parliament passed the Essential Commodities (Amendment) Bill, 2020, which replaces an Ordinance promulgated in June 2020 and amends the Essential Commodities Act (ECA), 1955. The Bill removes commodities like cereals, pulses, oilseeds, edible oils, onion, and potatoes from the list of essential commodities, aiming to remove fears of private investors of excessive regulatory interference and ensure consumer interests are safeguarded. The amendment aims to attract private sector investment into the agriculture sector, increase investment in cold storages and modernization of the food supply chain, and create a competitive market environment. However, issues involved include potential infringement upon states' powers, risk of black marketing and hoarding, and increased inflation.

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The Parliament passed the Essential Commodities (Amendment) Bill, 2020, which replaces an Ordinance promulgated in June 2020 and amends the Essential...

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  • File Format: PDF
  • File Size: 267 KB
  • Pages: 2
  • Language: EN
  • Author: Drishti IAS
  • Total Downloads: 100
  • Last Updated: 10 hours ago

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