FM proposal draws criticism

The finance minister, Mr P. Chidambaram's proposal to impose a blanket ban on trading in food futures in India to contain prices has drawn sharp criticism from economists, one of who described the move as a "political gimmick." Mr Chidambaram, speaking at Asian Development Bank's annual meeting in Madrid on Monday, said, "The pressure is to suspend a few more food articles. If people perceive that commodity futures trading is contributing to a speculation-driven rise in prices, then in a democracy you will have to heed that voice."

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