What do you mean by 'Consumer Protection' ? Explain in brief the importance of 'Consumer Protection'.

Answer – Consumer protection safeguards buyers against exploitation and provides awareness, fair treatment and redress when goods or services are deficient.

Consumer perspective: many consumers lack knowledge of rights and remedies; individuals are often unorganised and have weak bargaining power; exploitation can include adulteration, misleading advertisements, defective goods, overcharging and unfair terms.

Business perspective: fair treatment serves long-term business interest; business uses society's resources and has social responsibilities; moral justification requires honesty; self-regulation can reduce the need for stricter government intervention.

The Consumer Protection Act, 2019 provides a framework covering goods and services, including relevant offline and online transactions. It provides consumer rights, redressal commissions, measures against unfair trade practices, product-liability provisions, mediation arrangements and the Central Consumer Protection Authority. Older questions may name the 1986 Act; the present framework is the 2019 Act and applicable rules.