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12 March 2010 at 16:50 IST
Futures trading effective way of price discovery: CEA
NEW DELH (Commodity Online): Futures trading in commodities is an effective way of price discovery and it is not a catalyst for the rise of inflation, said Kaushik Basu, Chief Economic Advisor to Indian government.
Addressing at a FICCI seminar on de-risking the futures trading in commodities, Basu said that futures trading should not be left unregulated as there are possibilities of people getting cheated. Besides, it is extremely important for stake holders to take a position against price risk, he added.
Basu further said that in order to mitigate high food inflation, which is hovering around 17-18% in the country, the government should improve the storage and supply mechanism.
Private sector participation should be brought in the food grains management so as to protect the most vulnerable section of the population, he added.
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