The Union Cabinet has made historic amendments to Essential Commodities Act 0f 1955.
Under the amendment to Essential Commodities Act, 1955, the agricultural commodities such as pulses, cereals, onions oil seeds and potatoes have been deregulated.
It will relieve the private investors from the fear of excessive regulatory interference.
Also, the amendment will allow clamping of stock limits only under very extreme circumstances.
This includes famines and natural calamities.
The stock limit is not applicable to processors and value chain participants.