Yes, prices should be regulated to control the market in India.

• Price regulation by the government reduces the artificial scarcity that is created by the producers to increase the level of price. When the price of the commodity is being increased the profit of the producers rises, but it will be a loss to the consumers. For protecting the consumers from the rise in the prices for the good price, regulation is essential.

• When the shopkeeper forces to buy the product which has higher prices, then the consumer must know the quality and quantity of the product. The product must be worth the price.