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26
October 2017
 |
PM Modi (The Total Investment & Insurance
Solutions)
Prime
Minister Narendra Modi on Thursday said the government was in the process of
enacting stringent legislation aimed at protecting consumers along with setting
up a Consumer Protection Authority (CPA).
"Consumers'
protection is this government's priority. We are in the process to bring a new
law on consumer protection keeping in mind the need of the country and business
practices here," Modi said at an International Conference on Consumer
Protection for East, South and South-East Asian Countries.
"We
are in the process of forming a Consumer Protection Authority, which will have
executive powers, for immediate redressal."
The
rules were being streamlined to solve consumer problems in less time and at
less cost, he added. The Total Investment
& Insurance Solutions
"The
stress is being given on consumer empowerment. Strict provisions are being
contemplated against misleading advertisements," Modi said.
He
said India was among the few countries which had enacted a law a year after the
UN adopted guidelines on consumer protection in 1986.
The
Prime Minister also said the prices of commodities were set to go down and
consumer interests were to be protected effectively due to the implementation
of the Goods and Services Tax (GST). The Total
Investment & Insurance Solutions
Due
to the GST, the competition among companies was going to increase. So prices
will go down. It will help consumers from lower middle class and poor
sections," Modi said. The Total
Investment & Insurance Solutions
"Earlier,
transportation by trucks would take five days but it has come down to just
three three days now as checkposts on borders have vanished after the GST. It
means transportation cost has gone down. This is going to be transferred to
consumers,"
Taking
a dig at those opposed to the GST, he said: "Some people may be taking
advantage of the lack of awareness. However, the benefits will be transferred (to
consumers) in days to come." The Total
Investment & Insurance Solutions
Talking
about the conference, Modi said: "It shows how seriously we take the needs
of our citizens and how we strive hard to solve their problems.
"It
is the first conference in the region, where everyone is trying in their own
ways to save the interest of consumers. However, we have to keep in mind that
the world is going towards a single market," Modi said.The Total Investment & Insurance Solutions
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