Government working on new consumer protection law: Modi

PM Modi crosses 10 million mark on Instagram remains most followed leader on app

He stressed on the protection of consumer interests as a priority of the government. He said, a new business culture has been started after the GST and consumer will be most benefited.

Here are 5 things about the upcoming consumer protection law, as revealed by PM Narendra Modi. He said prices will come down as a result of competition among companies following implementation of GST which was launched in July this year. Pointing out that it was mentioned in Atharva Veda that nobody should be involved in malpractices of quality and measurement, Modi said, "You will be astonished to know that in India, around 2,500 years ago, during the period of Kautilya, there were guidelines for the government on how trade should be regulated and the interest of consumers protected".

It is for the first time an worldwide conference on consumer protection is being organised by India for countries of the region. "Today we are in the process of enacting a new Consumer Protection Act keeping in view business practices and requirements of the country".

"The focus is on consumer empowerment and ensuring consumer faces no difficulties".

#New consumer protection act is being made, consumer empowerment will be major part of it and guidelines on misleading ads will be stricter.

"After GST, dozens of different types of indirect taxes in the country have been abolished".

The developer will not be able to divert fund as 70% of the money has to be kept in an escrow account. This Act also has provisions to order recall of substandard products from the market and for compensation in case of loss or damages incurred by the consumer.

Prime Minister's assurance comes on the heels of the Centre's decision to extend the deadline for mandatory linking of Aadhaar to avail benefits of various Government schemes till March 31 next year.

#Consumer protection in an inseparable part of governance.

Stating that the scope of Consumer Protection is very broad in the vision of the government, Modi said: "Development of any country and consumer protection are complementary".

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