New Delhi: The Essential Commodities (Amendment) Bill 2020 was passed by Rajya Sabha today. Earlier, the Bill was introduced by the Minister of State for Consumer Affairs, Food & Public Distribution Danve Raosaheb Dadarao in the Lok Sabha on 14th September, 2020 to replace ordinances promulgated on 5th June 2020.
The bill was passed by Lok Sabha on 15th September, 2020.
The Bill has provisions to remove commodities like cereals, pulses, oilseeds, edible oils, onion and potatoes from the list of essential commodities.
The EC (Amendment) Bill 2020 aims to remove fears of private investors of excessive regulatory interference in their business operations. The freedom to produce, hold, move, distribute and supply will lead to harnessing of economies of scale and attract private sector/foreign direct investment into agriculture sector. It will help drive up investment in cold storages and modernization of food supply chain, the Ministry of Consumer Affairs, Food & Public Distribution said.
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