On 24th September, a Bill was passed in the Lok Sabha to remove cereals, pulses, oilseeds, onions, potatoes and edible oils from essential commodities. Under this bill, the prices of the excluded items can be regulated by the government only under extra ordinary circumstances like war, famine, exponential price increase, etc. This bill was passed to bring in more private investors in the agriculture sector who have otherwise feared excessive price regulations.
The Essential Commodities (Amendment) Bill which amends the Essential Commodities Act, 1955, is one of the three major farm bills that have seen widespread protest from farmers all over the nation. Experts worry that not regulating these commodities may increase their prices, in turn increasing rural poverty. This move would then only advantage hoarders.