Moneycontrol's Sakshi Batra breaks down the amendments in the Essential Commodities Act
Finance Minister Nirmala Sitharaman on May 15 said the Essential Commodities Act will be amended to eliminate punitive measures such as preventive detention, confiscation of vehicles and attachment of properties of suspected hoarders and black marketers.
The removal of restrictions, based on expert panel recommendations, will enable merchants to directly purchase produce from farmers in large quantities. This can be particularly helpful in times of bumper harvests when farmers often dump produce in wholesale markets at throwaway prices.
So: What is the Essential Commodities Act and what are the amendments? How will it help farmers?
Moneycontrol's Sakshi Batra breaks down the amendments in Essential Commodities Act announced by Finance Minister Nirmala Sitharaman.