12-05-2006, 03:52 AM
Deccan Chronicle, 5 Dec 2006
<!--QuoteBegin-->QUOTE<!--QuoteEBegin-->PC gets a piece of Soniaâs mind
The other day UPA chairperson Sonia Gandhi gave a piece of her mind to the ministers handling key ministries including finance. She firmly directed that future trading in commodities must be stopped. It was established, on the basis of the data made available to her, that the prices of essential commodities are on the rise because of future trading in them.
<b>While some essential items have already been taken off the list, a decision in principle has been taken that the future commodities market should be closed completely soon after the current Parliament session gets over.</b> Union finance minister P. Chidambaram was also told to focus on bringing down the prices of essential commodities and also frame a âpopulist Budget-2007.â
The GDP growth rate may be 9.2% for the quarter ending September, but inflation is also rearing its head by touching a record high of 5.45%. <b>The Manmohan-Chidambaram-Montek team has to bring down the prices before the elections in five states next March-April. The worrisome aspect is that the growth in the agricultural sector slowed down to 1.7% again from 4% in the same quarter compared to last year.</b>
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Wont shutting futures market cause economic chaos?
<!--QuoteBegin-->QUOTE<!--QuoteEBegin-->PC gets a piece of Soniaâs mind
The other day UPA chairperson Sonia Gandhi gave a piece of her mind to the ministers handling key ministries including finance. She firmly directed that future trading in commodities must be stopped. It was established, on the basis of the data made available to her, that the prices of essential commodities are on the rise because of future trading in them.
<b>While some essential items have already been taken off the list, a decision in principle has been taken that the future commodities market should be closed completely soon after the current Parliament session gets over.</b> Union finance minister P. Chidambaram was also told to focus on bringing down the prices of essential commodities and also frame a âpopulist Budget-2007.â
The GDP growth rate may be 9.2% for the quarter ending September, but inflation is also rearing its head by touching a record high of 5.45%. <b>The Manmohan-Chidambaram-Montek team has to bring down the prices before the elections in five states next March-April. The worrisome aspect is that the growth in the agricultural sector slowed down to 1.7% again from 4% in the same quarter compared to last year.</b>
<!--QuoteEnd--><!--QuoteEEnd-->
Wont shutting futures market cause economic chaos?