Cabinet approves historic amendment to Essential Commodities Act: Key points

Jun 3, 2020

Union minister Prakash Javadekar (Photo: ANI)

NEW DELHI: The Union Cabinet on Wednesday announced amendment to the historic Essential Commodities Act which has been acting as a hindrance to investment. The Cabinet met for the second time this week for taking key decision to give a boost to the the economy which has been battered by the ongoing Covid-induced lockdowns.
Briefing the media after the meet, which was chaired by Prime Minister Narendra Modi, Union ministers Prakash Javdekar and Narendra Tomar said the decisions will transform the agriculture sector and also help in attracting investments in the country.
Here are the key points from the briefing:
* Cabinet has approved historic amendment to the Essential Commodities Act. It was enacted at a time of scarcity, now there is no scarcity. It has been acting as a hindrance to investment. This hanging sword has now been put to an end. A 50-year-demand of farmers has been fulfilled today: Javadekar
* Government approved setting up of an Empowered Group of Secretaries (EGoS) & Project Development Cells (PDCs) in Ministries/Departments for attracting investments in India: Javadekar
* Cabinet approved renaming of Kolkata Port Trust as Syama Prasad Mookerjee Trust: Prakash Javadekar

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