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India received 65% more FDI during Modi regime against 10 years of UPA rule, says FM Nirmala Sitharaman

Replying to the discussion on the Finance Bill, 2022, and Appropriation Bill, 2022, the finance minister said India continues to remain among the top five foreign direct investment recipient countries in the world, as per a UNCTAD report.

March 29, 2022 / 05:43 PM IST
Finance Minister Nirmala Sitharaman

Finance Minister Nirmala Sitharaman

Finance Minister Nirmala Sitharaman on Tuesday said FDI into the country during the Modi government was $500.5 billion, which is 65 per cent more than the amount received in the 10 years of the UPA government, as investors have trusted the economic management of the current regime.

Replying to the discussion on the Finance Bill, 2022, and Appropriation Bill, 2022, the minister said India continues to remain among the top five foreign direct investment recipient countries in the world, as per a UNCTAD report.

The FDI inflow in 2020-21 was $81.72 billion compared to $74.9 billion in the preceding financial year.

Despite the covid pandemic, she said the government did not resort to taxes for resource mobilisation and no tax was increased to fund the economic recovery.