Sunday, September 7, 2008

Printing of Cost of Production and Maximum Retail Price bill

In India, Mandatory Printing of Cost of Production and Maximum Retail Price bill was presented in April 2006 but it was not passed and hence is non-functional. The bill said: It is generally seen that the prices of consumer goods sold in the markets are determined arbitrarily by the manufacturers. In this process, the manufacturers gain huge profits as the actual manufacturing cost is very low. The consumers’ interests are compromised and they are compelled to buy goods at much higher prices in comparison to actual manufacturing cost of goods. Thus, consumers are subjected to economic exploitation. No manufacturer wants to print the cost of production which in reality is way low than maximum retail price. The government committee formed to recommend ways to avoid exploitation of consumers (August 2008) was very much in favor of printing cost of production, but it faced huge protest from industry. This in a way shows how the government is controlled by the interest of industrialists rather than masses.
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1 comment:

  1. if thats the case.. coke has to be priced 20 paise :P


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