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Samajwadi Party today blamed Forward Trading for current spate of runaway inflation in the country.
The party's manifesto, which was released by its supremo Mulayam Singh Yadav here, claimed Forward Trading was stoking inflation.
Giving an illustration, SP general secretary and the manifesto's main architect Ram Gopal Yadav said spot trading to the tune of Rs 400-500 crore was transacted daily in the Azadpur Mandi of Delhi.
"However, transactions worth almost Rs 4,000 crore are transacted in Forward Trading daily in Azadpur Mandi without any commodity actually bought or sold. This is fueling inflation. If our party comes to power at the Centre, Forward Trading would be scrapped," he announced.
The manifesto has further advocated fixing retail price to the ceiling of 150% of the input cost to control inflation.
The party is of the opinion that extravagance and overspending by the rich was adding to inflationary pressure in the country.
The manifesto promises imposition of heavy tax to clamp down spending on luxurious vehicles, houses and lavish weddings.
Individuals, who have become millionaires "overnight" would have their wealth probed and money laundering cases slapped against them if necessary.
The manifesto speaks about corruption and black money. It claims a parallel economy of black money was prospering in India and large sums of money were staked abroad in unaccounted wealth. The party promises to reclaim black money.
Special Monitoring Units would be constituted for implementing anti-corruption laws and keeping tab on ministers, officials and corporate houses indulged in wrong doing.
