| Date: |
03-08-2011 |
| Subject: |
FDI In 2011-12 To Be At Record High: FinMin |
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India is expected to receive highest foreign direct investment in 2011-12, a senior finance ministry official said today.
"This year the FDI is going to see a very big rebound and go up to a very comfortable level... and it should go up where we were (at the) record high," Chief Economic Adviser at the Ministry of Finance Kaushik Basu told reporters.
In 2010-11, India attracted FDI worth USD 19.4 billion, a 25% dip over the previous fiscal.
Between 2000-2001 and 2010-11, the country received highest FDI of USD 27.32 billion in 2008-09.
On Foreign institutional investments, Basu said FIIs are very difficult to forecast.
"They are so volatile that they keep changing," he said.
In its Economic Outlook for 2011-12 released yesterday, the Prime Minister's Economic Advisory Council PMEAC said that overall capital flows this fiscal were likely to rise in 2011-12, though it projected FIIs to register a sharp fall.
Source : moneycontrol.com
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