Write short answer of the following.
Why is the enactment of Consumer Protection Act important for consumers?
The Consumer Protection Act was passed in 1986, by the parliament with the primary aim of protecting the consumers against exploitation and ensuring that their grievances are taken into care. The Act protects the interests of consumers against various forms of exploitation including defected products, unsatisfactory services and unfair trade practices such as black-marketing and hoarding. It also ensures speedy and inexpensive settlement of consumer disputes. However, if a product or service is rendered free of charge, then no complaint is entertained against such products or services. The Consumer Protection Act also provides a three-tier machinery comprising District Forums, State Commissions and the National Commission for the redressal of consumer grievances. Such a redressal system ensures that the consumer grievances are resolved in minimum time with no unnecessary delays. Hence, the enactment of the Consumer Protection Act is important for consumers.