Reforms hit as rules are rigged

It's been a forgettable fiscal year for reforms so far. With the end of the current financial year looming and the Budget around the corner, the reform calendar has barely two-and-a-half entries. On the credit side, we can tot up allowing 100 per cent foreign direct investment in single brand retail, allowing foreign investors to buy directly into Indian equities, and a tentative ‘all clear' for allowing foreign airlines to acquire up to 49 per cent stake in domestic airlines. 

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