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“Left proposal under study”

NEW DELHI: Union Commerce Minister Kamal Nath has said the government was considering the Left’s proposal to ban forward trading in essential commodities to arrest rising prices.

Mr. Nath also indicated that the Left’s proposal to ban private procurement of wheat could also be accepted.

“State governments will have to take the maximum onus for controlling inflation. In case the States do not act, the Centre won’t hesitate to use its legislative powers to deal with the situation,” he told Karan Thapar on CNN-IBN’s ``Devil’s Advocate” programme.

Though inflation showed a marginal decline last week, the perception or fear of inflation was worse than inflation itself, he said. Mr. Nath, however, claimed that the present inflation was the consequence of “unprecedented growth over the last four years.”

The Minister admitted that the government needed a series of policies to tackle inflation. “There is no one-size fits-all solution for inflation,” he said.

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