Saying that “consumer protection” is one of the priorities of his government, PM Modi said on Thursday that sterner guidelines are coming in the future to protect people from misleading advertisements. While speaking at the International Conference on Consumer Protection for East, South and South-East countries in New Delhi, PM Modi said that “The government prioritizing consumer protection is in line with our resolve of New India. We will change it to consumer prosperity on the way ahead”.
The PM also said that his government is working on a new consumer protection, which would put out sterner guidelines on advertisements and make sure that people are not misinformed. “Stringent provisions have been proposed against misleading advertisements. A Central Consumer Protection Authority with executive powers will be constituted for quick remedial action,” PM added. Replacing the old Consumer Protection Act 1986, the new law will in its place combine the revised 2015 UN guidelines on consumer protection. The PM Modi in his address at the conference gave credit to the new Goods and Services Tax (GST) regime for giving the country “a new business culture”.
While stressing on the introduction of the GST, PM said that now consumers are aware of the amount of tax going to the Centre and state, and won’t be cheated. PM Modi also said that it would benefit poor and middle-class consumers and they’ll be the biggest winners of a new indirect tax regime. “GST will boost competition between companies, which will decrease prices of goods, in turn benefiting poor & middle-class consumers. In any business, consumer satisfaction is of utmost importance,” he added. Paying attention to the Vedas, PM said that “Atharva Veda talks about fair trade practices”.