Parliament passes the Essential Commodities Amendment Bill 2020

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.

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