Record FDI In India: During the tenure of Modi government, there has been record foreign investment in the country. Finance Minister Nirmala Sitharaman said on Tuesday that under the Modi government, foreign investment of $ 500.5 billion has come into the country, which is 65 percent more than the FDI in the 10 years of the UPA government. He said that investors have relied on the economic management of the current regime, so more foreign investment has come in the country during this period. The minister said that according to the UNCTAD report, India remains in the top five foreign direct investment recipient countries of the world. The Finance Minister said that Foreign investment of USD 81.72 billion came in 2020-21, which was USD 74.9 billion in its first financial year. The Finance Minister said that despite the Kovid epidemic, the government did not resort to taxes to mobilize resources and did not increase any taxes for economic recovery. While on the other hand, according to a report by OECD, 32 countries have resorted to increase in their tax rates for their economic recovery.
Nirmala Sitharaman said that the war between Russia and Ukraine is affecting all countries like the pandemic did. The Finance Minister also said that Rs 8.35 lakh crore has been given to states from central taxes in the current fiscal, which is higher than the revised estimate of Rs 7.45 lakh crore for 2021-22.