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
He asserted that the government's efforts ensured inflation has been kept under check and the consumer saves money.