'New legislation to protect consumers' interests soon'

By Our Special Correspondent

NEW DELHI, JAN. 7. The Union Finance Minister, Mr Yashwant Sinha, today said that the Consumer Protection Act was being reviewed by the Government and a new legislation would be enacted soon. The Minister also confirmed that the new competition policy, as promised in the last Budget, was being formalised and would be announced soon.

Mr. Sinha, who was speaking at a pre-budget meeting with representatives of consumer organisations here today, said it had been the Government's endeavour to protect the interest of the consumers. The price situation had improved, inflation was under control and the consumer price index had dipped to zero level, all of which would help the consumers, he added. The Finance Minister also urged the consumer organisations to create awareness among consumers to resist unfair trade practices.

During the discussions, the representatives of consumer organisations mooted the creation of a National Safety Commission for safety in public places, safety in food and water and safety of products. Another suggestion was for setting up of a consumer justice system and mobile courts for disposal of consumer cases in rural areas, provision of laboratory facilities at the State consumer commission level, overhauling of the public distribution system to serve the target groups better and further widening of the tax net. In this context, one proposal was for extending the ``one by six'' criterion to all district headquarters. Another important recommendation was for empowering the Debt Recovery Tribunal to make public the names of defaulters on bank loans.

Other proposals which came up during the discussions pertained to mentioning both the ex-factory price and the maximum retail price on products while some others felt that the wholesale and retail prices should be mentioned. A memoranda presented to the Finance Minister during the meeting also proposed allocation of funds for regulatory authorities both at the national and State levels.

The memoranda also called for steps to dismantle some of the non- merit subsidies, starting with higher education, urban transportations etc. which do not affect the interests of the poor consumers.

Send this article to Friends by E-Mail

Section  : Front Page
Previous : Caution against BJP's 'hidden agenda' on Hindu
           Rashtra
Next     : Opposition rallying against BJP's 'hidden agenda'