Legislations for consumer protection regulate the terms of transactions between producers and consumers in the economy and thus have an important bearing on overall social and economic development. While it is imperative to create a conducive environment where producers can freely engage in productive activities and create employment opportunities for the masses and create wealth in general, it is also equally important to uphold the consumers’ Constitutional right to quality goods and services. Adhering to this very principle, the Act has tried to incorporate many aspects of consumer protection like protection from hazardous goods and services; promotion and protection of consumers’ economic interest; their access to adequate information; education; effective redressal mechanisms; and formation of independent consumer groups.
However, while enacting legislation, due regard should also be given to ensuring that they do not become barriers to private entrepreneurship because private entrepreneurs drive the engine of growth and create wealth in the economy. Consumer protection laws that hamper entrepreneurial activities can have serious negative repercussions for the economy. Thus, legislators should take into account the myriad of costs and benefits of any proposed provisions while drafting such legislation.
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