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The Chhattisgarh government has initiated a crackdown on the hoarding of LPG cylinders and other essential commodities.
A total of 97 First Information Reports (FIRs) have been registered against individuals involved in hoarding.
A high-level meeting, chaired by the Chief Minister, reviewed the availability and supply of petroleum products, LPG, and fertilizers.
The move aims to ensure smooth supply and prevent artificial scarcity and price manipulation in the state.
Hoarding refers to the practice of accumulating large quantities of goods beyond immediate consumption needs, often with the intention of creating artificial scarcity in the market. This artificial scarcity can then be exploited to drive up prices and generate undue profits, leading to market distortion and consumer exploitation.
Simple Analogy: Imagine a shopkeeper buying all the available apples in a town, not to sell them immediately, but to wait until no other apples are left, and then sell his stock at a much higher price. This is similar to hoarding.
This Act empowers the central and state governments to regulate the production, supply, and distribution of certain commodities declared 'essential'. Its primary objective is to ensure the availability of these commodities to consumers at fair prices and to prevent hoarding and black marketing. The government can impose stock limits, control prices, and direct sales under this Act.
This department, present in every state, is responsible for implementing policies related to food security, managing the Public Distribution System (PDS), monitoring the availability and prices of essential commodities, and enforcing consumer protection laws. They play a crucial role in preventing hoarding and ensuring fair trade practices.
GS-II: Government policies and interventions; GS-III: Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment; Public Distribution System, issues of buffer stocks and food security.
General Awareness: Indian Economy, Polity, Current Affairs.
General Awareness: Economic and Social Issues, Current Affairs.
General Awareness: Indian Economy, Current Affairs.
In India, markets in agricultural products are regulated under the
Answer: Agricultural Produce Market Committee Act enacted by States
If you withdraw ₹ 1,00,000 in cash from your Demand Deposit Account at your bank, the immediate effect on aggregate money supply in the economy will be
Answer: to leave it unchanged
The term 'West Texas Intermediate', sometimes found in news, refers to a grade of
Answer: Crude oil
Medium for direct questions on specific acts, High for general understanding of government's role in market regulation and consumer protection.
Accumulation of goods to create artificial scarcity and raise prices.
Law enabling government control over production, supply, and distribution of essential goods.
Indian food security system for distributing subsidized food and non-food items to India's poor.