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Context: Recently, the Parliament passed the Essential Commodities (Amendment) Bill, 2020. The Bill replaces an Ordinance promulgated in June 2020 and amends the Essential Commodities Act (ECA), 1955.
Background:
However, the Economic Survey 2019-20 highlighted that government intervention under the ECA 1955 often distorted agricultural trade while being totally ineffective in curbing inflation.
This led to farmers being unable to get better prices due to lack of investment in cold storage, warehouses, processing and export.
Key features of the 2020 bill
Significance of the Essential Commodities (Amendment) Bill, 2020
Road Ahead
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