An expert committee set up over a year ago to study if futures trading influenced commodity prices will neither recommend a ban nor favour continuing trade in essential commodities, said a member of the panel. (AP)
When I heard this news a couple of days back, I could guess why. The panel is headed by an economist who also happens to head the planning commision. If he claims that Futures trading causes an increase in prices, his fellow economists will laugh at him. If he claims that it does not, he gets into trouble with his political masters.
Sharad Joshi, founder of Shetkari Sanghatana and the member of the panel referred to above, explains that there is more to it in a well argued article.