Govt may soon issue ordinance to amend FCRA
The government is likely to soon issue an ordinance amending the Forward Contract Regulation Act to facilitate autonomy to the commodity market regulator, Forward Markets Commission.
By PTI |
NEW DELHI: The government is likely to soon issue an ordinance amending the Forward Contract Regulation Act (FCRA) to facilitate autonomy to the commodity market regulator, Forward Markets Commission.
"The issue is likely to be taken up by the government in Cabinet," Minister of State for Food Processing Industries Subodh Kant Sahai said here today.
Speaking on the sidelines of an Assocham organised conference on Commodity Futures Trading, Sahai said the government is coming up with an ordinance to strengthen FMC on the lines of SEBI.
"We are not waiting for the next session of Parliament," he said.
FMC Chairman B C Khatua said, the budget session may not give priority to the FCRA amendment. So the govt has thought of the ordinance.
Besides, the proposed amendment in FCRA is already delayed by three years he added.
"The issue is likely to be taken up by the government in Cabinet," Minister of State for Food Processing Industries Subodh Kant Sahai said here today.
Speaking on the sidelines of an Assocham organised conference on Commodity Futures Trading, Sahai said the government is coming up with an ordinance to strengthen FMC on the lines of SEBI.
"We are not waiting for the next session of Parliament," he said.
FMC Chairman B C Khatua said, the budget session may not give priority to the FCRA amendment. So the govt has thought of the ordinance.
Besides, the proposed amendment in FCRA is already delayed by three years he added.
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