Traders stage unique protest outside Rajghat against inflation

Published: Friday, May 2, 2008, 17:26 [IST]
 


New Delhi, May 2 : Donning shorts, vests and ties, Delhi businessmen staged a unique demonstration on Friday outside Rajghat, the memorial to the Father of India, Mahatma Gandhi, protesting against the rising prices of essential commodities.

"We are facing a number of problems like inflation, sealing etc. Thanks to this government by which the common man is badly affected. The poor are already suffering. The common man's condition would be akin to wearing just a tie sans shirts and pants. If this situation persists, neither workers nor businessmen can survive," said one of the businessmen.

The traders said the price rise has forced even well off traders to struggle for their livelihood.

They demanded immediate government intervention in the matter to protect the livelihood of traders and people of other sections dependent on them.

The traders also demanded for setting up of a regulatory body for the forward trading business and to make delivery of goods compulsory for the transactions made in forward trading.

Meanwhile, the Bharatiya Janata Party (BJP) issued a call today for a nationwide shutdown to protest against inflationary trends in the economy.

Shops and business establishments remained closed during the early hours.

India's annual wholesale price inflation was at three-year highs above 7 per cent in mid-April.

India that has about 260 million poor is sensitive to rising prices because food often accounts for a much higher proportion of people's expenditure than in developed economies.

With inflation pressures largely coming from the supply side, economists say there is a limit to what the central bank can do with monetary policy, especially as growth is slowing.

ANI
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