India Inc asks FM not to micro-manage

Have you wondered why businessmen have this benign image of free market supporters, despite their never ending attempts to control market using the power of government? It's because of reports like this. FE reports:

India Inc on Wednesday said there was no evidence to prove finance minister P Chidambaram’s views that companies artificially jacked up prices leading to higher inflation. In fact, it wanted the government to stay away from micro-management, which it felt, was a retrograde step.

“In case prices go up due to a supply-demand gap, there are many ways to tackle it. Let the market decide it. In an economy that is seeing such growth, minor spike in prices is fine,” Habil Khorakiwala, president, Ficci told FE in an interview.

I am not suggesting that businessmen today have all the power and consumers have none. But that's how a businessman would like it to be. Nothing against Khorakiwala too. A friend who met him yesterday said he is a very nice guy.