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The CPI-M today criticised the UPA government for not curbing futures trading in foodgrains, which has led to a 'sharp rise in prices of foodgrains and food articles'. "A major factor for the price rise is the forward and futures trading in foodgrains and essential commodities. The price rise can be checked only if there are curbs on futures trading in essential commodities and ban on open entry of private players in the grain trade," CPI-M General Secretary Prakash Karat told reporters here at the end of the party's three-day Central Committee meeting. He said that the Standing Committee of Parliament had recommended amendment of the Futures Trading Act, but the Congress-led government had refused to consider them. Stating that the prices of pulses had risen by barely 33 per cent between January and November last year, he said that the government had to make efforts to increase procurement and strengthen the public distribution system. He also demanded a further reduction of petroleum prices to the June 2006 level. Karat said that the UPA government should extend the coverage of the National Rural Employment Guarantee Act to another 200 districts and make budgetary provision for it. On the agrarian crisis, he said that the UPA government should accept the Farmers Commission's recommendations on interest rate of institutional credit, the setting up of price stabilisation fund and minimum support price mechanism to alleviate the hardship of farmers.
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