Question : Statement 1: The Consumer Protection Act 1986 is significant legislation in India.
Statement 2: It aims to protect the interests and rights of consumers.
Option 1: Both statement 1 and statement 2 are true.
Option 2: Statement 1 is true, but statement 2 is false.
Option 3: Statement 1 is false, but statement 2 is true.
Option 4: Both statement 1 and statement 2 are false.
Correct Answer: Both statement 1 and statement 2 are true.
Solution : The correct answer is (a) Both statement 1 and statement 2 are true.
Statement 1 is true. The Consumer Protection Act 1986 is indeed a significant and important piece of legislation in India that has been enacted to safeguard the rights and interests of consumers.
Statement 2 is also true. The primary objective of the Consumer Protection Act 1986 is to protect the interests and rights of consumers by providing a legal framework for addressing consumer grievances, ensuring fair and transparent business practices, and promoting consumer welfare.
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