India needs to scrap all the farm input subsidies for developing a vibrant commodities derivatives market and also needs to move the commodities trading regulator Forward Markets Commission (FMC) under the ministry of finance. The views were expressed by several speakers the fourth Invest India Derivatives Forum 2002.
The country needs to develop a vibrant commodities market and to achieve this objective, all the farm input subsidies should be stopped and replaced with equivalent fiscal incentives on per acre basis to agriculture land owners and tillers, Ashok V. Desai, noted economist and consulting editor of Business Standard said. Desai was in the chair at the session on commodity derivatives at the forum.
