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Should the hoarding and black marketing not increase with this 'decision' of the Modi Government?

Wednesday - September 23, 2020 11:01 am , Category : WTN SPECIAL
Modi Government makes the amendment in the Essential Commodities Act
Modi Government makes the amendment in the Essential Commodities Act

Now, the government control over the stock and the prices of potatoes, onions, and lentils ends!

SEP 22 (WTN) - Prime Minister Narendra Modi's government has always been recognized for its historical and revolutionary decisions. From the demonetisation to the GST, and from Article 370 to the CAA, these are the decisions that speak of the Modi government's ability to take big and difficult decisions. In this context, another historic decision of the Modi Government has got approval from both the houses of Parliament. For your information, let you know that after the Lok Sabha, the Essential Commodities Act has also been passed from the Rajya Sabha. But, do you know what will happen to you after the enactment of this bill? If you do not know, we let you know in detail.

In fact, after the amendment to the Essential Commodities Act, now essential commodities like grains, pulses, potatoes, onions, and edible oils, have been removed from the agricultural food items in this Act. That is, the government will no longer control all these agricultural food items, and farmers will be able to fix their prices and sell them. However, the government will review it from time to time, and if required, the rules can also be tightened.

For your information, let you know that the sale, the supply, and the distribution of all the items that come under this Act has been controlled by the Central Government so far. Not only this, the government decides the maximum retail price (MRP) of these items at present. In fact, it is believed that some items are essential for human life, and these items could not be black-marketed and hoarding so these items are included in the list of essential commodities.

Under this Act, the Central Government has the power that if the Central Government comes to know that the supply of any one item is very less according to the demand in the market, and its price is constantly increasing for that reason, then for a certain time, the government implements this Act on the production, the stock, the sale, and the MRP of that commodity.

However, this decision of the Modi Government has been strongly opposed by the opposition, including Congress. The opposition argues that with the passage of this bill, there will no longer be any control over the private investors, and once again the black marketing and the hoarding will increase, and this will increase the prices of essential commodities. But, the government's argument is something else. The government believes that the change in the Essential Commodities Act will strengthen the entire supply chain of the agricultural sector. At the same time, the farmer will be free to fix the price of his produce, and the investment in agriculture will be encouraged.

However, the government's argument may be correct from their point of view. But, if there is no government control, then there will always be a danger of the hoardings and the black marketing of essential commodities. If this happens, then the prices of essential commodities can rise. Well, these are all apprehensions right now. It may be that this decision of the government will give the farmers a fair price for their production, while increasing the investment and good competition in this area, consumers will get the right price at the right price.