Breaking news

Meghalaya Governor Satya Pal Malik’s stand has not softened even after moreAll You Need to Know About Cryptocurrency in India: Trends, Legality and more The Champaran Foundation, in collaboration with InFeed, organised an online more In one of the biggest leaks ever of offshore financial records, the more The Champaran Foundation, in collaboration with InFeed, is inviting entries more The recently concluded German elections on September 26, 2021 have given a more According to latest news reports, China has been on a defense infrastructure more A new line of argument has already come to dominate the public sphere: it’ more The government has gone one step further to detect community spread of the more The government has issued an order to abolish the six allowances, including more Aarogya Setu application launched by NIC is aimed to track COVID-19 affected more SEOUL| South Korea’s unemployment rate was unchanged in April as the more Amid the outbreak of Corona pandemic in the country, Indian government has more Prime Minister Narendra Modi in his address to the nation on Tuesday indicated more Corona infection in the country is taking a macabre form. So far, more than 74 more Congress General Secretary Priyanka Gandhi Vadra has written a letter to UP more On Tuesday, Prime Minister Narendra Modi announced a package of Rs 20 lakh more

Essential Commodity Act May Be Amended in Cabinet Meet

Essential Commodity Act

An important cabinet meeting will be held on Wednesday under the chairmanship of Prime Minister Narendra Modi in which Essential Commodity Act may get ammended. In this meeting, steps taken under the Economic Package 2.0 of Rs 20 lakh crore can be approved. If sources are to be believed, a decision can be taken on the change in the Essential Commodities Act amended in the meeting.

Union Finance Minister Nirmala Sitharaman had announced a big reform in the agricultural sector giving the third phase details under the economic package of 20 lakh crores.

She has announced to amend the Essential Commodities Act. Agricultural food items including cereals, edible oils, oil-seeds, pulses, onions and potatoes will be excluded from this act. In fact, due to this law made in 1955, farmers have to sell their produce to the Agricultural Produce Market Committee (APMC). He was forced to sell the produce in the nearby mandi of his state.

Whatever items come under this Act, the central government controls their sale, price, supply and distribution. It decides its maximum retail price (MRP). Some things are such that without which it is difficult to lead a life. Such items are included in the list of essential items.

What is Essential Commodity Act ?

Whenever the Central Government comes to know that the arrival of a certain commodity is very low according to the demand in the market and its price is increasing continuously, then it applies the Act to it for a certain time. Sets his stock limit. Whoever sells this item, be it a wholesaler, a retailer or an importer, is prevented from stocking more than a certain quantity so that black marketing does not occur and prices do not rise.

But there is no shortage of them in the country of the items that the government has announced on Friday to exclude from them, . Despite this, due to the implementation of this law, farmers could not get a fair price.

Story Page