Prime Minister Narendra Modi. Photo: ANI Twitter handle
Underlining the Union government's resolve of building a 'New India', Prime Minister Narendra Modi on Thursday said that "consumer protection" was in line with the same and a new act, which will have strict guidelines on misleading ads, is in the making.
"New consumer protection act is in the making, consumer empowerment will be a major part of it and guidelines on misleading ads will be stricter," Modi said at the International Conference on Consumer Protection for East, South & South-East Countries in New Delhi.
Referring to the Vedas, Modi said, "Consumer protection in an inseparable part of governance. Our Vedas have an extensive mention of consumer protection."
The prime minister asserted that the government's priority to consumer protection is in line with the resolve of New India which will be changed to "consumer prosperity on the way ahead".
In his address at the conference, which saw participation from 24 countries, Modi credited the new Goods and Services Tax (GST) regime and asserted that it will "boost competition between companies". He assured that the reform will benefit poor in the long run.
"GST will boost competition between companies, which will decrease prices of goods, in turn, benefiting poor and middle-class consumers," Modi said.
He asserted that the government's efforts ensured inflation has been kept under check and the consumer saves money.