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Essential Commodities (Amendment) Bill - 2020
September 28 , 2020
1441 days
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- The Parliament passed the Essential Commodities (Amendment) Bill, 2020 on September 15.
- The Bill replaces an Ordinance promulgated in June 2020.
- It amends the Essential Commodities Act (ECA), 1955.
- The ECA 1955 was used to curb inflation by allowing the Centre to enable control by state governments of trade in a wide variety of commodities.
Features of the Bill
- Removes commodities like cereals, pulses, oilseeds, edible oils, onion and potatoes from the list of essential commodities.
- Aims to remove fears of private investors of excessive regulatory interference in their business operations.
- Ensures that interests of consumers are safeguarded by regulating agricultural foodstuff in situations such as war, famine, extraordinary price rise and natural calamity.
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