Centre eyes new consumer law: PM

New Delhi, Oct. 26: Prime Minister Narendra Modi on Thursday vowed to protect consumer interest, saying a new law is on the anvil that will crack down on misleading advertisements and provide time-bound redressal of their grievances.

Listing consumer friendly measures taken by the government in the last three-and-half years, he said a simplified GST has ended a plethora of state and central taxes and laid the ground for reduction in prices in the long run.

Rigour for use of energyefficient LEB bulbs has not just brought down their prices but also helped save `20,000 crore in electricity bills, Mr Modi said.

Besides, he said, the government has brought down prices of life-saving heart stent implants as well as knee implants.

He also said that paying consumers subsidy directly on cooking LPG has led to a saving of `57,000 crore.

Addressing a global conference on consumer affairs, he stressed that consumer interest has not just been protected by giving them rights, but also by taming inflation and various schemes that have helped poor and middle class save on spendings.

He cited examples of Ujala scheme of providing cheap LED bulbs, saying it has resulted in a saving of `20,000 crore through reduction of LED bulb price to `40-45 a unit from over `350, as also on electricity consumption.

“Today we are in the process of enacting a new Consumer Protection Act keeping in view business practices and requirements of the country. The proposed Act lays great emphasis on consumer empowerment,” he said.

The rules are being simplified to ensure that consumer grievances are redressed in a time-bound manner and at least possible cost, he said, adding that stringent provisions are proposed against misleading ads.

A Central Consumer Protection Authority with executive powers will be set up for quick remedial action.

The government's proposed new law will replace the Consumer Protection Act of 1986 by incorporating the amended 2015 UN guidelines on consumer protection. — PTI