National Consumer Day 2021: Why is it celebrated?

Consumers form a significant part of a nation’s economy. Without them, it would be impossible for the economy to function and grow. In order to highlight our power and rights as consumers, National Consumer Day is annually celebrated in India on December 24. (This is not to be confused with World Consumer Day which is celebrated on March 15!) It primarily seeks to create awareness about consumer rights amongst citizens. The 2021 celebrations for this day will be inaugurated by India’s Food and Civil Supplies Minister, Antony Raju. 

History behind National Consumer Day 
The emergence of the National Consumer Day is tied to the Consumer Protection Act of 1986. (This act was revised in 2019, and implemented in the following year.) It was enacted with the fundamental aim to protect the interests of consumers. This act was considered to be a historic milestone in regard to the consumer movement which was picking up pace in India during the 80s. It includes six basic rights like right to choose the product, to be protected from hazardous goods, informed about the quality of the product and heard in consumer-rights related decision-making processes. Also, it involves the right to seek redressal, and the right to consumer education. December 24 specifically holds significance because this was the day that the president gave his assent to this Act. 

Significance of National Consumer Day 
One of the key aspects of this day is to know the value of money and understand how it functions as a double-edged sword. Smart, accurate management of this resource can lead to a prosperous economy which is beneficial to all. However, corrupt use of these rights can cause problems and lead to mistrust in society. The Government of India has fixed prices for most goods and services in the country. Sometimes, unfortunately, individuals and companies on the selling end deceive consumers by misquoting these prices. This day helps consumers and sellers become aware of consumer rights and know that they have protection they have from the judiciary. It protects the consumer from exploitation and misleading schemes, and aims to foster healthy buyer-seller relationships.