Which Act provides a simple, speedy and inexpensive redressal for consumer grievances relating to defective goods, deficient services and unfair trade practices?
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The Consumer Protection Act established the three-tier system of consumer courts in India: District, State, and National commissions, designed specifically for the "simple, speedy and inexpensive redressal" mentioned in the question.
Step 1: Identify the purpose of the legislation described.
Step 1: The question asks for the name of the law designed to protect consumers and provide an easy mechanism for resolving complaints against businesses.
Step 2: Recall the name of the primary consumer law in India.
Step 2: The landmark legislation in India for this purpose is the Consumer Protection Act. First enacted in 1986 and since replaced by a more recent version, its primary objective has always been to provide a simple, quasi-judicial system for consumer dispute resolution.
Step 3: Select the correct official name.
Step 3: The official and widely recognized name of the law is the "Consumer Protection Act." The other options are either slight variations or incorrect names.