CCEA nod to bring onion and potato under Essential Commodities Act, 1955

In a move that would empower the State governments to carry out de-hoarding operations, the Cabinet Committee on Economic Affairs (CCEA) approved the inclusion of onion and potato under the purview of stock holding limits under the Essential Commodities Act, 1955.

This has been taken to deal with the problem of artificial scarcity of these commodities created by the hoarders which leads to increase in prices. It will also improve the availability of these commodities to the general public particularly vulnerable sections.

State Governments are now empowered to continue to conduct de-hoarding operations effectively under the Essential Commodities Act, 1955 by fixing stock limits/licensing requirements etc. in respect of these commodities especially in view of soaring prices.
Background: 

The Essential Commodities Act, 1955 seeks to ensure the easy availability of essential commodities to consumers and to protect them from exploitation by dishonest traders. The Act enables regulation and control of production, distribution and pricing of commodities, which are declared as essential for maintaining or increasing supplies or for securing their equitable distribution and availability at fair prices. Various Ministries/ Departments of the Central Government and State Governments/Union Territory administrations exercise the powers of this act to issue Control Orders for regulating production, distribution, price and other aspects in relation to the commodities declared as essential.

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Categories: India Current Affairs 2017

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  • siva
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    upto date curren affires