Cabinet Secretary to report improving future commodities market

New Delhi, June 22 (UNI) The Cabinet has asked the Cabinet Secretary to seek the opinion of experts and report on the manner in which the commodity markets relating to futures can be better regulated.

"A bill to strengthen the futures market in commodities is pending in Parliament. It is before the Standing Committee. Meanwhile, the government has asked the Cabinet Secretary to report to it on what can be done immediately in this regard, pending the Bill being passed", Finance Minister P Chidambaram told newspersons here today.

The Finance Minister was briefing the Press on the outcome of the Cabinet and CCEA decisions at their meeting this morning.

The Bill before Parliament is entitled 'Forward Contract (Regulation) Amendment Bill, 2006.' It seeks to enhance the powers of the Commodities Regulator--Forward Markets Commission.

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