Importance Of Consumer Protection Act 1986

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The Consumer Protection Act, 1986 is the most important legislation enacted to provide for effective safeguards to consumers against various types of exploitations and unfair dealings, relying on mainly compensatory rather than a punitive or preventive approach. Every individual is a consumer, regardless of occupation, age, gender, community or religious affiliation. Consumer rights and welfare are now an integral part of the life of an individual and we all have made use of them at some or the other point in our daily routine. A healthy and developing insurance sector is of vital importance to every modern economy. The growing size of the sector, the high level of sophistication in marketing and selling practices and forms of promotion like advertising, etc. have contributed to the increased need for protection of insurance policy holders. Consumers are the largest economic group and have always been a game changer for economic activities and therefore, are to be treated as the king in a changing business scenario. Despite the fact that consumer protection is a crucial and sensitive affair, it is surprising to note that consumer affairs are not expressly mentioned anywhere in the Indian Constitution i.e. the Indian Constitution carries no express provision relating to consumer protection. But since consumer justice is an integral component of social and economic justice, which the state is duty bound to secure to its citizens, the central and state government are mandated

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