NEW DELHI (Commodity Online): Futures trading is on the edge again. The Communist Party of India-Marxist (CPI-M) has called for an immediate ban on Futures trading of essentials.

It blamed multinational companies of hoarding food grains as part of their business in Futures trading.

"There are many steps which we suggested to curb price rise. If the government takes those steps like banning Futures trade in essential commodities, things would stabilize," CPI-M general secretary Prakash Karat addressed a party rally.

But passing on the buck seems to be the favourite past time for India’s parliamentarians. And this becomes acute if they are unfortunately in ministerial berth.

The latest salvo is from Agriculture Minister Sharad Pawar who put the spiraling price rise blame squarely on the state governments and even issued diktat to do more to control rising food prices.

And the platform was his party’s national convention. Pawar has lately become immune to all criticisms and has been silent on many issues including that of his own ministry’s failure in many fronts.

He termed the price rise as a global phenomenon and assured his colleagues that his ministry is trying hard to control them.

But despite his assurances, the prices continue to rise partly because of unsustainable agriculture policies of the government and partly due to unfavourable climatic conditions.

On the other hand, responding to Pawar’s blame on state governments, Bihar Chief Minister, Nitish Kumar accused Pawar of making such statements out of sheer frustration as the federal government has failed in all fronts.

"We are undertaking a drive against hoarding and black marketers are being penalised. We have left no stone unturned to reach food grains to the people despite soaring prices of essential commodities," he remarked.

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