Question : Ministry of Commerce & Industry released FDI statistics on January 27, 2021. What is the total amount of FDI inflows received during April to November, 2020 ?
(a) 58.37 billion dollar
(b) 48.37 billion dollar
(c) 38.37 billion dollar
(d) 88.37 billion dollar
Ans. (a)
Related facts
- Ministry of Commerce & Industry released FDI statistics on January 27, 2021.
- During April to November, 2020, total FDI inflow of US$ 58.37 billion has been received.
- It is the highest ever for first 8 months of a financial year and 22% higher as compared to first 8 months of 2019-20 (US$ 47.67 billion).
- FDI equity inflow received during F.Y. 2020-21 (April to November, 2020) is US$ 43.85 billion.
- It is also the highest ever for first 8 months of a financial year and 37% more compared to first 8 months of 2019-20 (US$ 32.11 billion).
- Significance of FDI
- Foreign Direct Investment (FDI) is a major driver of economic growth and an important source of non-debt finance for the economic development of India.
- It has been the endeavor of the Government to put in place an enabling and investor friendly FDI policy.
- The steps taken in this direction have borne fruit, as is evident from the ever-increasing volumes of FDI inflows being received into the country.
- Measures taken by the Government on the fronts of FDI policy reforms, investment facilitation and ease of doing business have resulted in increased FDI inflows into the country.
By — Pankaj Pandey.