Question

The government levies higher taxes on products such as tobacco and alcohol to promote healthier choices among citizens. Can you find out other goods where price controls have been set in place? What are the reasons for the same?

Answer 1

• Some other goods where the government may regulate or control prices include essential medicines, food grains, LPG cylinders, and fertilisers.
• The main reasons are to make essential goods affordable, prevent exploitation, protect consumers, and ensure that basic necessities are available to everyone.