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Indian EconomyEasy

National Consumer Day is observed in India on which date?

  1. A.15 March
  2. B.5 June
  3. C.24 December
  4. D.14 November

Correct answer

C. 24 December

Explanation

The correct answer is C, 24 December. National Consumer Day marks the day on which the Consumer Protection Act, 1986 received the assent of the President of India, and it is observed every year with campaigns on consumer rights and on the machinery available for redressal. Option A is wrong because 15 March is World Consumer Rights Day, observed internationally, and the two are the commonest pair of distractors in this question; remember that the national day is in December and the world day in March. Option B is wrong because 5 June is World Environment Day. Option D is wrong because 14 November is observed in India as Children's Day, the birthday of Jawaharlal Nehru. The Act of 1986 has since been replaced by the Consumer Protection Act, 2019, but the date of the observance has not changed.

Read the full article: Consumer Protection and Competition Law: Notes and PYQs

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Q1.Indian EconomyAsked in: SSC MTS · 12 Oct 2021, Shift 3Medium

As per the Consumer Protection Act, 1986 a complaint can be filed in the District Consumer Disputes Redressal Forum if the value of the claim is up to:

  1. A.Rs. 5 lakh
  2. B.Rs. 15 lakh
  3. C.Rs. 20 lakh
  4. D.Rs. 10 lakh
Show answer
Correct answer: C. Rs. 20 lakh

The Consumer Protection Act, 1986 created a three-tier machinery and fixed a money limit for each tier: the district forum could hear a complaint where the value of the goods or services and the compensation claimed did not exceed twenty lakh rupees, the state commission took claims above that limit…

Q2.Indian EconomyAsked in: Delhi · 15 Nov, 2023, Shift 3Medium

Which of the following is NOT an element of the Competition Act 2002?

  1. A.Prohibition of anti-competitive agreements
  2. B.Regulation of combination
  3. C.Abuse of dominant position
  4. D.Prohibition of trade
Show answer
Correct answer: D. Prohibition of trade

The Competition Act, 2002 rests on three pillars, and freedom of trade is the very thing it protects, so no provision of it prohibits trade; on the contrary, the Act opens by stating that it seeks to ensure freedom of trade carried on by other participants in markets in India.

Q3.Indian EconomyEasy

Which Act governs consumer protection in India at present?

  1. A.The Consumer Protection Act, 1986
  2. B.The Consumer Protection Act, 2019
  3. C.The Monopolies and Restrictive Trade Practices Act, 1969
  4. D.The Essential Commodities Act, 1955
Show answer
Correct answer: B. The Consumer Protection Act, 2019

The new Act widened the definition of a consumer to cover online, teleshopping and multi-level marketing purchases, created the Central Consumer Protection Authority, introduced product liability and rules for electronic commerce, allowed mediation and e-filing, and renamed the three redressal bodies as Commissions.