RBI blames Ramesh’s ‘environment sensitive policies’ for FDI dipBy ANI
Thursday, January 27, 2011
NEW DELHI - The Reserve Bank of India (RBI) has blamed Minister of State for Environment and Forests Jairam Ramesh’s ‘environment sensitive policies’ for driving away Foreign Direct Investments (FDI) from the country.
At least this is what the Reserve Bank of India suggests - in its quarterly review of economy released on Monday -as one of the key factors affecting ‘investors’ sentiment’, The Indian Express reports.
The RBI records an “almost 36 per cent” dip in inward FDI during the first half of the current fiscal (April-September 2010).
In its report, the apex bank points out that inward FDI during this period stood at only about 12.6 billion dollars as against 19.8 billion dollars inward flow witnessed during the same period in the last fiscal.
It was not a global phenomenon is borne out of the fact that FDI inflow into other emerging economies during the same period was up in the range of 6-53 per cent. (ANI)