This refers to the report, "Situation now is same as the one in '91" (July 11). I am amused to read Yashwant Sinha's statement, "They [the Reserve Bank of India and the government] should not fight the markets...". Last year, Sinha, while talking at a gathering organised by the Foundation for India and Indian Diaspora Studies, in Virginia, US, had publicly opposed foreign direct investment (FDI) in retail and the entry of Walmart in India. This opposition was also taken to Parliament. This shows that Sinha believes only in a part of the market and, thus, his views are not in support of a genuine market liberalisation. Many other politicians are also distorting the markets and business environment in India. Unless they support the policy for market liberalisation, the current partial liberalisation is not going to change economic fundamentals in India.
Chandrashekhar G Ranade Washington DC
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