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HomeFeatured StoriesUnion Finance Minister Nirmala Sitharaman says government has put in place investor-friendly...

Union Finance Minister Nirmala Sitharaman says government has put in place investor-friendly policy to promote foreign investment

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Union Finance Minister Nirmala Sitharaman said that the government has put in place an investor-friendly policy to promote foreign investment. In a reply in Lok Sabha, the Union Minister informed that except certain strategically important sectors , rest are open for 100 percent FDI under the automatic route. She said that to promote growth, various steps have been announced in the 2023-24 union budget including an increase in capital investment outlay. The Union minister mentioned that the government has recapitalized the banks, merged them and strengthened their balance sheets so that bank lending could grow faster. She added that as per the provisional data, the country has received 46.03 USD Billion and 70.97 USD Billion FDI Equity inflow and FDI inflow respectively in 2022-23.

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