Tamil Nadu   

Ban futures trading to check inflation: Vaiko

Tuticorin: Vaiko, general secretary of Marumalarchi Dravida Munnetra Kazhagam, blamed the policies of the Central Government for the rise in inflation which has hit the middle class, lower middle class and below poverty sections of the society.

Speaking to reporters here on Saturday, he said that both the Union Finance Minister P. Chidambaram and Chief Minister M. Karunanidhi were misleading the people citing “incorrect reasons” for the inflation.

He ridiculed the version that fall in food production was one of the reasons.

“In fact, the overall foodgrain production in the country stood at 232.37 million tonnes during 2007-08 fiscal, registering a 10 per cent increase over production in 2006-07,” he pointed out.

Crop-wise, wheat production increased by 10 million tonnes last fiscal and rice production by 20 million tonnes against the production achieved during 2006-07 fiscal.

According to him, futures trading and all types of speculative trading on essential commodities should be banned to tackle the inflation.

Mr. Vaiko said that his party planned to highlight how the present State Government was betraying the people in various fronts.

“Even when the people are experiencing unannounced power cuts for long hours, the Electricity Minister is making statements in the Assembly that there are no power cuts,” the MDMK general secretary said.

Terming the Sethusamudram Ship Channel Project as a scheme that was essential for the State, he said that the Chief Minister was responsible for the confusion generated in the society about the project with his provocative statements that hurt the religious sentiments of a certain section.

Mr. Vaiko said that credibility of State police had been “totally shattered” as the real accused in the murder of three persons at Dinakaran newspaper office in Madurai last year, were not arrested even a year after the incident.

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