'Rules and regulations are required for the protection of the consumers in the market place.' Justify the statement with arguments.

Solution

In India, the consumer movement as a ‘social force’ originated with the necessity of protecting and promoting the interests of consumers against unethical and unfair trade practices.

Rampant food shortages, hoarding, black marketing, adulteration of food and edible oil gave birth to the consumer movement in an organized form in the 1960s.
Till the 1970s, consumer organisations were largely engaged in writing articles and holding exhibitions.
Because of all these efforts, the movement succeeded in bringing pressure on business firms as well as government to correct business conduct which may be unfair and against the interests of consumers at large.
Therefore in 1986 the Indian government enacted the Consumer Protection Act 1986.