The decision to bring in new FDI rules, as you have pointed out (‘Now the doubts’, April 27) has made a mockery of the existing caps on foreign investment levels. These were rushed in by one section of the government when the prime minister was out of commission and these are now being used to circumvent the caps. Now that these new rules are being opposed by the Reserve Bank of India as well as by the finance ministry, the government needs to roll them back. It also needs to find out just how the new rules were notified and who the ministers and bureaucrats behind them were.
Sanjay Gupta, New Delhi
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