While mentioning the unique nature of CP Act 1986, He mentioned the new Consumer Protection Bill which is on the top priority of the Government. He said, a new business culture has been started after the GST and consumer will be most benefited.
The Prime Minister also spoke of the standardization proces introduced in the country and the madatory norm of obtaining certifications from the BIS on certain products, making the quality products available for the consumers.
"GST will boost competition between companies, which will decrease prices of goods in turn benefiting poor and middle-class consumers", Modi said.A Central Consumer Protection Authority with executive powers will be constituted for quick remedial action, he said.
It is for the first time an global conference on consumer protection is being organised by India for countries of the region. Today the International Conference on Consumer Protection for East, South & South-East Asia in Delhi has been held.
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But during the election, despite being "one of their own", the town became the centre of protests against Ardern's plans for a water tax.
The government is coming up with this new law, replacing the Consumer Protection Act 1986, which will incorporate the revised 2015 United Nations guidelines on consumer protection.
"After GST, dozens of different types of indirect taxes in the country have been abolished. The biggest beneficiaries of GST will be the consumers, middle class". "The focus is on consumer empowerment and ensuring consumer faces no difficulties", he added.
The RERA legislation would protect buyers from builders monopoly, he said while highlighting key provisions of this real estate law. There used to be ambiguity regarding the area of the flat. Now any commodity or service related to public or consumer interests can be brought under compulsory certification. He further asserted that Aadhaar scheme implementation will be a gain for everybody as Aadhaar card maintains equality and allocates grants/subsidies to every citizen without being partial. "This will enhance mutual trust and trade", the prime minister said.
Modi said that the government's efforts have kept inflation in check.