Raman demands ban on Future Trading in India

     New Delhi, February 6, 2010: Chhattisgarh Chief Minister Dr Raman Singh today demanded ban on future trading of commodities to check price rise in the country.

     Addressing the Chief Ministers Conference on the price rise, convened by the Prime Minister Dr Manmohan Singh, the Chief Minister expressed his concern over the high inflation and especially the steep increase in prices of the essential commodities.

     To check increase in prices of essential commodities, there should be ban on future trading of wheat, rice, pulses, sugar and edible oil and other essential commodities, he demanded.

     Singh also demanded the Centre to declare the margin of profit of essential commodities for the wholesale and retail traders and if that was not possible at New Delhi level, than the power should be handed over to the states, he added.

     Chhattisgarh also demanded drastic cut in rate of interest on foodgrain production by the Reserve Bank of India from 11 per cent to 4 per cent.

    The levy on Sugar mills should be increased to 40 per cent to increase stock of sugar in the country and maintain stability in its price, Singh said.