Measures Suggested by Left Parties to Curb Price Rise

Friday, April 25, 2008

Press Release

Leaders of the Left Parties, Prakash Karat, A.B. Bardhan, Sitaram Yechury, D. Raja, Debabrata Biswas and Abani Roy met the Prime Minister today and submitted a memorandum listing measures that the government should take to curb price rise. The measures suggested are given below:

 Measures Suggested by Left Parties to Curb Price Rise

 *Strengthen the Public Distribution System by universalizing it; restore the cut in food grain allocations to the states under the PDS; include 15 essential commodities including pulses, edible oil, and sugar in the PDS.

*Put curbs on procurement of foodgrains from farmers by private companies and traders.

*Ban futures trading in 25 agricultural commodities as proposed by the Parliamentary Standing Committee on Food, Consumer Affairs and Public Distribution.

*Cut customs and excise duties on oil and reduce retail prices of petrol and diesel.

*Take stringent action against hoarding of essential commodities; strengthen the provisions of the Essential Commodities Act to empower state governments to deal with hoarding and black-marketing.

*The present requirement of declaration of stocks of foodgrains of 50,000 tonnes and above held in godowns and warehouses should be lowered to 10,000 tonnes.