Essential Commodities Act Current Affairs, GK & News

Essential Commodities Act

The government has declared face masks and hand sanitizers as essential commodities under the Essential Commodities Act to prevent profiteering from the demand created by COVID-19 pandemic. About the Act The Essential Commodities Act was passed in 1955 to control the ‘production, supply and distribution of, and trade and commerce, in certain commodities’ in the ..

Ban lifted on Onion Exports

Recently, the Government of India lifted the ban on export of all types of onions. The ban was imposed by the central government in September, 2020 and is to be lifted from January 1, 2021. Why did GoI impose ban on Onions? There were two major reasons behind the government ban. Wholesale prices of onions ..

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Lok Sabha passes Farm Reform bills: Facts, Concerns and Benefits

On September 17, 2020, Lok Sabha passed two farm bills amidst the protests from the opposition. The bills were on agriculture market reforms and contract farming provisions. The bill to amend the essential commodities Act, yet another farm bill was passed on September 15, 2020. Highlights The Government of India had earlier introduced three ordinances. ..

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Maharashtra Government Forms Panel to Fix Rates of Masks and Sanitizers

The Government of Maharashtra has decided to set up a panel in order to fix the reasonable rates for the purchase of masks and sanitizers. The panel will take stock of the demand and supply situation in the state and also consider the cost of production before deciding on a fixed rate for these items. ..

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Union Cabinet approves farmer friendly Essential Commodities Act

On June 3, 2020, the Union Cabinet chaired by PM Modi has made historic amendments to Essential Commodities Act. Under the amendment, the regulatory environment has been liberalized for farmers. The Farmers Agreement on Price Assurance and Farm Services Ordinance, 2020: The amendment has been made through this ordinance. The ordinance will allow farmers to ..

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Third Tranche of Rs 20 lakh Economic Package announced

With the PM Modi announcing the Atma Nirmar Bharat Abhiyan on May 12, 2020, Rs 20 lakh crore were allocated to ease life of the people during Lock Down 4.0. Following this, the Finance Minister Nirmala Sitaraman held two press meets earlier explaining the country about the split of these funds. The third Tranche of ..

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