In search of statesmen
In the last fortnight or so, India’s political class has shown that it refuses to change, or recognise the need for change. Consider the following. In a desperate attempt to resume economic reforms, top leaders of the government decide that it should allow foreign direct investment or FDI in multi-brand retail. So, the Union Cabinet approves a proposal, even while Parliament is in session, to allow 51 per cent foreign equity in multi-brand retail and raise the FDI cap in single-brand retail from 51 per cent to 100 per cent.
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