The Essential Commodities Act, 1955

The Essential Commodities Act, 1955 is an Indian law that empowers the government to regulate the production, supply, and distribution of essential commodities in the country. The act was enacted to ensure the availability of essential commodities to consumers at fair prices and to prevent hoarding, black-marketing, and profiteering. The act defines essential commodities and empowers the government to regulate their production, supply, and distribution by imposing stock limits, fixing prices, and regulating trade practices. The act also provides for the confiscation of hoarded essential commodities and punishment for violations of the act.