 bill no lxv of  2012 the  special  price  control  authority  bill,  2012 a billto provide for the constitution of  a special price control authority to control the rise inthe prices of commodities and services and  formulate a concrete, adequate and uniform national price policy in the country and for matters connected therewith or incidental theretobe it enacted by parliament in the sixty-third year of the republic of india as follows:—1 (1) this act may be called the special price control authority act, 2012 (2) it extends to the whole of indiashort title, extent and commencement5(3) it shall come into force on such date as the central goverrnment may, by notificationin the official gazette, appointdefinitions2 in this act, unless the context otherwise requires,—(a) "prescribed" means prescribed by rules made under this act; (b) "recognised economist" means economist serving in or retired from variousinstitutes of the central or the state governments; and(c) "special authority" means special price control authority constituted undersection 3constitution of special price control authority3 (1) the central government may, by notification in the official gazette, constitute a special price control authority which shall be exercising its powers conferred by this act and discharge the assigned duties and functions to maintain the prices at normal level in the country5(2) the special authority shall consist of not more than ten members, to be appointed by the central government from amongst the persons who are recognised economists having not less than ten years of experience in the field of fiscal policy(3) the central government may appoint one chairperson and one secretary from amongst the members of the special authority10(4) the salary, allowances and the terms and conditions of service of the chairperson, members and secretary of the special authority shall be such as may be prescribed(5) the headquarters of special authority shall be at new delhi(6) the special authority shall have its own secretariat consisting of such number of officers and employees as it deems necessary for the efficient performance of its functions15(7) the recruitment, salaries and other terms and conditions of service of the officers and employees of the special authority shall be based on the rules framed for the central government employees and shall be such as may be prescribed4 the powers and functions of the special authority inter alia shall include:—(i) formulation of a concrete, adequate and uniform national price policy;20(ii) monthly listing of state-wise price fluctuation in all commodities or services;powers and functions of special price control authority(iii) preparing suggestions to normalize the price fluctuation and forwarding them to the central government;(iv) carrying out constant research on various measures of price control;25(v) making special efforts to ensure uniformity in the prices of commodities or services throughout the country;(vi) ensuring that price rise in urban areas shall not affect the price level in rural areas;(vii) ensuring that price fluctuation at international level does not affect the price level in the country; and30(viii) making all possible efforts to prevent the problem of price rise from being a long term on permanent phenomenonoverriding effect of the act5 the provisions of this act and rules made thereunder shall have effect notwithstanding anything inconsistent therewith contained in any other law for the time being in force35power to make rules6 the central government may, by notification in the official gazette, make rules for carrying out the purposes of this act statement  of  objects  and  reasonsfor past many years, there has been an uncontrolled hike in the prices of commodities or services in the country all fiscal measures of the government are proving useless due to this uncontrolled price, where the common men are suffering a lot in one hand, the people running the government have remained mere spectator as per the government data, there has been a sixty-three per cent hike in the price of all the commodities during april, 2004 to april, 2012 despite a continuous increase in rates of commodities or services the government have remained unsuccessful in controlling the prices on the contrary, this policy had certainly weakened the economy of the country when all the mechanisms of the government are proving unsuccessful in controlling steep hike in price, it is high time to take fresh and concrete initiative in this directionhence this billprabhat jha financial memorandumclause 3 of the bill provides for constituting a special price control authority the bill, if enacted, will involve expenditure from the consolidated fund of india it is estimated that a sum of rupees one hundred crore is likely to be involved from the consolidated fund of indiaa non-recurring expenditure of a sum of rupees three hundred crore may also involve on the establishment of secretariat and other related arrangements for the authority memorandum  regarding  delegated  legislationclause 6 of the bill empowers the central government to make rules for carrying out the provisions of this bill as the rules will relate to matters of details only, the delegation of legislation power is of a normal character——————— a billto provide for the constitution of  a special price control authority to control the rise in theprices of commodities and services and formulate a concrete, adequate and uniform national price policy in the country and for matters connected therewith or incidental thereto—————