Composite caps allow consolidation of all categories of foreign investments within the sectoral cap. The move is expected to align the foreign investment policy since many of the sectors already have composite caps.
Shyamal Mukherjee, deputy tax leader, PwC explains to CNBC-TV18‘s economic policy editor Siddharth Zarabi that the government‘s statement is clearly restricted to FIIs and portfolio investors.
The Reserve Bank of India (RBI) accepts that it is fighting a losing battle in trying to stem a fall in the rupee, a slide that has mirrored the slump in the once high-flying emerging market.