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Consumers will Be Biggest Beneficiaries of GST PM Modi

Consumers will Be Biggest Beneficiaries of GST PM Modi
The Goods and Services Tax (GST) is increasing competition among manufacturers, which will help bring down prices, making consumers the biggest beneficiaries of the new tax regime, Prime Minister Narendra Modi said.“With GST, a new business culture is developing and in the long term, consumers will be the biggest beneficiaries. Increased competition due to the GST will lead to moderation in prices. It will directly benefit poor and middle class consumers,“ Modi said in his address at an international conference on consumer protection held in the city on Thursday .
The PM also said the new consumer protection Act would give more teeth to the consumer, making issues like consumer awareness and grievance redressal simpler and less time consuming.“The proposed Act lays great emphasis on consumer empowerment. Rules are being simplified to ensure that consumer grievances are redressed in a time-bound manner and at least possible cost.Stringent provisions are proposed against misleading advertisements,“ he said.

The Department of Consumer Affairs in 2015 had done away with Consumer Protection Act of 1986, working on a new law to address consumer issues more closely. The new Act, which is in an advanced stage, will allow the establishment of a Central Consumer Protection Authority, which will speed up the process of grievance redressal in the country.
The new Act will also look into issues of food adulteration, misleading advertisement, among others, minister of consumer affairs, food and public distribution Ram Vilas Paswan has reiterated on several occasions in the past.
The Economic Times, New Delhi, 27th October 2017

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