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Monday, May 31, 2010

FDI's are down as recession re-emerges from Europe

Foreign direct investment in India dipped for the second month in a row in April to $2.21 billion, down 5.1 per cent over the year-ago period.

In March, the inflows had contracted by about 38 per cent to $1.2 billion. The inflows in the first three months of 2010 were $4.96 billion, down 20 per cent from $6.17 billion in the corresponding period last year.

Fiscal deficit 2009-10 marginal better then Govt Expectations

India's fiscal deficit for the 2009/10 fiscal year that ended on March 31 was Rs 4.12 trillion ($88.9 billion), the government said in a statement on Monday.

The deficit is equivalent to 6.6 per cent of India's gross domestic product (GDP), according to a Reuters calculation, and was slightly lower than the government's revised target of 6.7 per cent.

In February, the government had revised its fiscal deficit estimate for the year to Rs 4.14 trillion. Tax receipts were Rs 4.59 trillion and total expenditure was Rs 10.19 trillion for the 2009/10 fiscal year.