Rural development minister Raghuvansh Prasad Singh has suggested a news formula for containing the rising trend in prices. According to him the government should act in time and see that the prices of cereals in the retail markets should not cross more than 6%. The price increase in industrial goods should not be more than one-and-half times.
?The government need to act and see that unnecessary hoarding of stocks and market manipulations do not take place. If there is a shortage, then attempts should be made to strengthen the supply side,? he said while addressing the mediapersons in Capital o Monday. He said that the government has already drafted the proposal for the National Bio-fuel Mission , National Bio-fuel Development Board and a national bio-fuel policy which when implemented would take care of the fuel needs of the country to an extent. The minister said India would be hosting a three-day ministerial retreat and special session of the governing body of the Centre on Integrated Rural Development for Asia and the Pacific in Delhi from June 24, this year. Vice President M Hamid Ansari would inaugurate the event.
