Essential Commodities Act, 1955
Amid oil supply disruption concerns after Israel–U.S. strikes on Iran, the Government of India invoked the Essential Commodities Act, 1955 to regulate production, supply, distribution and trade, and curb hoarding, black marketing and artificial shortages. It permits stock limits, movement controls, and pricing/distribution regulation for notified goods (drugs, fertilizers, foodstuffs incl. edible oils, petroleum, seeds). The 2020 amendment restricts regulation of cereals, pulses, onions, potatoes and edible oils to extraordinary situations (war, famine, natural calamity, extraordinary price rise).
The Hindu


