New Delhi: Prime Minister Narendra Modi on Thursday said a new consumer protection law is on the anvil to crack down on misleading ads and ensure that grievances are redressed in a time-bound and cost effective manner.
He also said the government has enacted a new GST law which will benefit consumers in the long run as prices would come down because of competition among manufacturers.
“Today we are in the process of enacting a new Consumer Protection Act keeping in view business practices and requirements of the country. The proposed Act lays great emphasis on consumer empowerment,” he said.
“Stringent provisions are proposed against misleading advertisements. A Central Consumer Protection Authority with executive powers will be constituted for quick remedial action,” he added.
The government is coming up with this new law, replacing the Consumer Protection Act 1986, which will incorporate the revised 2015 UN guidelines on consumer protection. “Protection of consumer interests is a priority of the government. This is also reflected in our resolution of the New India. Moving beyond Consumer Protection, New India will have Best Consumer Practices and Consumer Prosperity,” Modi said.