What is the purpose of the Essential Commodities Act, 1955?
The Essential Commodities Act, 1955 (Central Act 10 of 1955) is a central legislation that aims to regulate the production, supply, and distribution of essential commodities in India. The Act empowers the government to control the prices of essential commodities, prohibit their hoarding and black marketing, and ensure their availability to the general public at fair prices. The Act plays a crucial role in maintaining the supply-demand balance of essential items and preventing inflationary pressures in the economy.