The Market Regulation system was introduced by

Solution(By Examveda Team)

In the early 14th century, the Delhi Sultanate ruler Alauddin Khalji (r. 1296-1316) instituted price controls and related reforms in his empire. Alauddin's courtier Amir Khusrau states that Alauddin's objective the welfare of the general public. However, Ziauddin Barani (c. 1357) states that the Sultan's objective was to subjugate the Hindus and to maintain an unprecedentedly large army (the low prices would make low salaries acceptable for the soldiers). Alauddin fixed the prices for a wide range of goods, including grains, cloth, slaves and animals. He banned hoarding and regrating, appointed supervisors and spies to ensure compliance with the regulations, and severely punished the violators. The reforms were implemented in the capital Delhi, and possibly, other areas of the Sultanate. They were revoked shortly after Alauddin's death, by his son Qutbuddin Mubarak Shah.