Current Affairs PDF Sales

FDI raised 18% to $73.46 billion in FY20: DPIIT

AffairsCloud YouTube Channel - Click Here

FDI rises 18% to $73In accordance with the data released by the Department for Promotion of Industry and Internal Trade (DPIIT), the total foreign direct investment (FDI) increased by 18% to $73.46 billion in the FY2019-20. This hike was the highest in the four years.

  • Out of the total FDI, equity inflows through the Foreign Investment Promotion Board (FIPB), Reserve Bank of India’s (RBI’s) automatic route of acquisition rose 13% to around $49.98 billion.

Key Points:

-Total FDI has doubled from FY13-14 when it was only $36 billion.

-Investments by Foreign Institutional Investors (FII) was $247 million in FY19-20 which will spur job creation.

-Singapore again emerged as the largest equity FDI source, contributing to inflows of $14.67. However, this is a drop from the $16.22 billion Singapore contributed in 2018-19. 

-Total FDI inflows, which include investment through the equity, reinvested earnings and other capital, stood at $62 billion in April-March 2018-19.

About DPIIT
Parent organization– Ministry of Commerce and Industry
Minister of Commerce and Industry– Piyush Goyal
Headquarter– New Delhi

About FIPB:
In 2019, it was renamed as Foreign Investment Facilitation Portal (FIFP). This portal is being administered by the Department for Promotion of Industry and Internal Trade (DPIIT).
It is the government of India’s portal for investors to facilitate FDI. 
Director– Nikhil Kumar Kanodia

About Reserve Bank of India (RBI):
Headquarters– Mumbai, Maharashtra
Formation– 1 April 1935
Governor– Shaktikanta Das
Deputy Governors– 4 (Bibhu Prasad Kanungo, Mahesh Kumar Jain, Michael Debabrata Patra, one is yet to be appointed).