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Economy | FDI falls 47% in May; no change in policy on retail

Economy | FDI falls 47% in May; no change in policy on retail
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First Published: Mon, Jul 20 2009. 11 20 PM IST
Updated: Mon, Jul 20 2009. 11 20 PM IST
New Delhi: Foreign direct investment (FDI) in the country declined by about 47% to $2.1 billion in May due to the global recession and the trend is likely to continue for some more months, a senior government official said on Monday. The government had scaled down the FDI target by $5 billion from $35 billion last fiscal.
Separately, the government also said there was no proposal to change the current foreign direct investment policy on retail trade. India currently does not allow FDI in retail trade, except for single brand products where up to 51% FDI is allowed.
PTI & Newswire18
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NHPC IPO: govt expects to mop up Rs5,000 cr
New Delhi: The Union government has raised its expectations on mobilization of funds from NHPC Ltd’s initial public offering (IPO), and is now targeting to mop up to Rs5,000 crore, a company official said on Monday. “As a result, the IPO pricing is likely to be done at over Rs30 per share,” he said. An empowered group of ministers is expected to approve the IPO pricing at a meeting on Friday, he said.
Newswire18
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Consumer price inflation cross double-digit mark
New Delhi: While headline inflation based on the wholesale prices (WPI) is running in the negative zone, consumer price inflation for the agricultural labourers (CPI-AL) and rural labourers (CPI-RL) have ran past the double-digit mark in June.
Data released by the labour bureau on Monday showed CPI-AL and CPI-RL for June increased to 11.52% and 11.26% compared to 10.21% in May for both the series mainly due to costlier food prices. During June last year, respective rates of consumer price inflation were 8.77% and 8.75%.
Asit Ranjan Mishra
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First Published: Mon, Jul 20 2009. 11 20 PM IST
More Topics: FDI | Government | Global recession | NHPC | IPO |