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    IcIonic fashion designer Satya Paul passed away at 79 in Coimbatore

    IcIonic fashion designer Satya Paul passed away at 79 in Coimbatore

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    IcIonic fashion designer Satya Paul passed away at 79 in Coimbatore

    IcIonic fashion designer Satya Paul passed away at 79 in Coimbatore

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    Teach For India’s ‘Don’t Stop Learning’ campaign aims to make digital learning more accessible to Teach For India students

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    Enemies will tremble at the sight of India on Republic Day ! This time Raphael will join the parade

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    The whole of North India, including Delhi, is still foggy and chilly, people are stunned!

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    “Umbergaon residents wish for Vapi and Mumbai lifestyle experience” says consumer insight survey

    Odisha wins Best State & Civic Agency, Indore – Best Municipality, Gujarat – Best SEC and Kerala – Best SFC in Janaagraha City Governance Awards

    Odisha wins Best State & Civic Agency, Indore – Best Municipality, Gujarat – Best SEC and Kerala – Best SFC in Janaagraha City Governance Awards

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    In the bitter cold, the Chinese soldiers were discouraged, 10 thousand soldiers were withdrawn from the border

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    Neuberg Supratech launches round-the-clock RT PCR test counter at Sardar Vallabhbhai Patel International Airport

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    The CM of this state has been protesting in front of Raj Bhavan for 3 days !

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    Kashmir and Ladakh separate from India on WHO map, Indians erupt

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    NSE is the world’s largest derivatives exchange for 2nd consecutive year

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    SINGAPORE AIRLINES AWARDED HIGHEST DIAMOND RATING IN GLOBAL AIRLINE HEALTH AND SAFETY AUDIT

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    Maurer Named Director of Information Technology Program – University of Missouri College of Engineering

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    Key tips on How To Buy a Refurbished iPhone 11 Pro Max

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    Beats Powerbeats Pro are on deal for just $90 refurbished

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Parliament passes the Essential Commodities (Amendment) Bill, 2020

NM by NM
4 months ago
in Business, National, News
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Parliament passes the Essential Commodities (Amendment) Bill, 2020
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The Essential Commodities (Amendment) Bill 2020 with provisions to remove commodities like cereals, pulses, oilseeds, edible oils, onion and potatoes from the list of essential commodities was passed by Rajya Sabha today. Earlier, the bill was introduced by the Minister of State for Consumer Affairs, Food & Public Distribution, Shri Danve Raosaheb Dadarao in the Lok Sabha on 14th September, 2020 to replace ordinances promulgated on 5th June 2020. The bill was passed by Lok Sabha on 15th September, 2020.

The EC (Amendment) Bill 2020 aims to remove fears of private investors of excessive regulatory interference in their business operations. The freedom to produce, hold, move, distribute and supply will lead to harnessing of economies of scale and attract private sector/foreign direct investment into agriculture sector. It will help drive up investment in cold storages and modernization of food supply chain.

The Government, while liberalizing the regulatory environment, has also ensured that interests of consumers are safeguarded. It has been provided in the Amendment, that in situations such as war, famine, extraordinary price rise and natural calamity, such agricultural foodstuff can be regulated. However, the installed capacity of a value chain participant and the export demand of an exporter will remain exempted from such stock limit imposition so as to ensure that investments in agriculture are not discouraged.

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Replying to the discussion on the Bill before it was passed by the Rajya Sabha today, Minister of States for Consumer Affairs, Food & Public Distribution Shri Danve Raosaheb Dadarao said that this amendment is required to prevent wastage of agri-produce due to lack of storage facilities. He said this amendment will create a positive environment not only for farmers but also for consumers and investors and will definitely make our country self-reliant. He said that this amendment will strengthen the overall supply chain mechanism of the agriculture sector. This amendment will also help to achieve the government’s promise to double the farmer’s income by promoting investment in this sector and promote ease of doing business.

Background:

While India has become surplus in most Agri-commodities, farmers have been unable to get better prices due to lack of investment in cold storage, warehouses, processing and export as the entrepreneurial spirit gets dampened due to Essential Commodities Act. Farmers suffer huge losses when there are bumper harvests, especially of perishable commodities. The legislation will help drive up investment in cold storages and modernization of food supply chain. It will help both farmers and consumers while bringing in price stability. It will create competitive market environment and also prevent wastage of agri-produce that happens due to lack of storage facilities.

Tags: Agriculture
NM

NM

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