'Govt needs to act against market manipulations'

Rural Development Minister Raghuvansh Prasad Singh has recommended a new formula to tame the price rise. According to him, the government should act in time and see that the prices of cereals in the retail Markets should not cross over 6%. The price rise in industrial goods should not be over one-and-half times.

“The government need to act and see that unnecessary hoarding of stocks and market manipulations do not take place. If there is a shortage, then attempts should be made to strengthen the supply side,” the minister said.

He said the government has already drafted the proposal for the National Biofuel Mission, National Biofuel Development Board and a national biofuel policy which when implemented would take care of the fuel needs of the country to an extent. (Source: ISSARD)

June 27, 2008