Parliament on Tuesday passed a bill to remove cereals, pulses, oilseeds, edible oils, onion and potatoes from the list of essential commodities. The Essential Commodities (Amendment) Bill, which was approved by the lower house on September 15, was approved by a voice vote in Rajya Sabha. The bill replaces an ordinance promulgated in June.
The Essential Commodities (Amendment) Bill, which was approved by the Lower House on September 15, was approved by a voice vote in Rajya Sabha. The Bill replaces an ordinance promulgated in June.
The Bill is also aimed at removing 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, the government said.
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