'FDI reforms have nothing to do with Rajan's exit decision'

As questions cropped up over whether the announcements on major foreign direct investment (FDI) reforms had anything to do with the Raghuram Rajan's exit from the Reserve Bank of India (RBI), the government said they were in the works and only an announcement was made on Monday.

"We were working on these (FDI reforms) for a couple of months. We have made the announcements after the work has been finished. Can it be done in one day?," Commerce Minister Sitharaman asked. At a media briefing, she was asked why the government chose to make the announcements on Monday when there was a 'hangover' of Rajan's decision to leave RBI.