The proposed General Anti-Avoidance Rules (GAAR) in the Indian budget are a short-sighted move that will impact foreign capital flows - including private equity - into the country, says Rahul Bhasin of Baring Private Equity Partners India, in an interview to The Mint . I think what we seem to have created for ourselves in an environment where this global growth is slowing and where we’ve had an opportunity to stand out as the beacon of light in terms of growth and opportunity, I think that we have conspired against ourselves and have lost what could have been our moment in the sun. ...More importantly, from a practical perspective one should look at what the consequences of something like this would be over the next 10 years or so. We are a country running a huge current account deficit, we need to finance it. You need to make sure that you have capital flows in place so that there is no amount of sudden discontinuity in that process because that could prove very expensive. ...I think ...