Essential Commodities Act Current Affairs - 2020

Essential Commodities (Amendment) Bill, 2020: Key Facts

On September 15, 2020, Lok Sabha passed the bill to amend Essential Commodities Act, 1955. The bill seeks to deregulate food items, pulses, cereals and onion. Highlights The amendment is already being implemented as ordinance. The GoI, in June 2020, promulgated the Essential Commodities (Amendment) Ordinance, 2020. Key features of the bill The amendment empowers Read More…

Authority of Advance Ruling: Alcohol based hand sanitizer to attract 18% GST

On July 14, 2020, the Goa Bench of GST Authority of Advance Ruling (AAR) pronounced that alcohol-based sanitizers will attract 18% GST. Highlights The Springfields Distilleries had moved to Goa AAR over the GST rates and the classification of hand sanitizers as essential commodity. The Ministry of Consumer Affairs had recently classified hand sanitizers as Read More…

Union Cabinet approves farmer friendly Essential Commodities Act

On June 3, 2020, the Union Cabinet chaired by PM Modi has made historic amendments to Essential Commodities Act. Under the amendment, the regulatory environment has been liberalized for farmers. The Farmers Agreement on Price Assurance and Farm Services Ordinance, 2020: The amendment has been made through this ordinance. The ordinance will allow farmers to Read More…

Third Tranche of Rs 20 lakh Economic Package announced

With the PM Modi announcing the Atma Nirmar Bharat Abhiyan on May 12, 2020, Rs 20 lakh crore were allocated to ease life of the people during Lock Down 4.0. Following this, the Finance Minister Nirmala Sitaraman held two press meets earlier explaining the country about the split of these funds. The third Tranche of Read More…

Drugs (Prices Control) Order, 2013 saved Rs 12,447 crores per annum since implementation

The Ministry of Chemicals and Fertilizers recently reported at the Parliament that the DPCO, 2013 (Drugs Prices Control Order, 2013) has helped to save Rs 12, 447 crores per annum. What is DPCO 2013? The DPCO is an order that was issued by the GoI under Essential Commodities Act, 1955. The order provides details to Read More…