Parliament passes the Essential Commodities Amendment Bill 2020
On 22nd Sept 2020, Rajya Sabha has passed the Essential Commodities (Amendment) Bill 2020. Minister of State (MoS) for Consumer Affairs, Food & Public Distribution Danve Raosaheb Dadarao presented this bill in Lok Sabha on 14th Sept 2020. The new bill will take place of ordinances promulgated on 5th June 2020.
Key Points –
- As per the Bill, commodities such as cereals, pulses, oilseeds, edible oils, potatoes and onions have been removed from the list of essential commodities.
- The Bill will invite private investors of excessive regulatory interference.
- The Bill is made for attracting private sector/foreign direct investment (FDI) into the agriculture sector.
- The Bill will boost investment in cold storages and modernization of the food supply chain.