"Consumer protection has had an important role in the country for thousands of years...It is mentioned in the Atharva Veda that there must be no wrongdoing while weighing commodities. The rules of consumer protection have been mentioned in books which were written thousands of years ago. Punishment for trading in a wrong way has also been laid down," said PM Modi while inaugurating a global conference in Delhi.
PM Modi said the new national tax GST is giving India a new business culture and consumers will be biggest beneficiary of the new tax regime. He said prices will come down as a result of competition among companies following implementation of GST which was launched in July this year.
The United Nations (UN) had issued guidelines on consumer protection in 1985. India became the first country to frame its own laws in 1986, which will soon be replaced with the new set.
Follow NDTV for latest election news and live coverage of assembly elections 2019 in Maharashtra and Haryana.
Subscribe to our YouTube channel, like us on Facebook or follow us on Twitter and Instagram for latest news and live news updates.