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Essential Commodities Act 1955
June 5 , 2020
1508 days
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- 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.
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