India received $32.4 billion foreign investment last fiscal

February 16th, 2009 - 4:52 pm ICT by IANS  

New Delhi, Feb 16 (IANS) India received about $32.4 billion of foreign investment in 2007-08, Minister for External Affairs Pranab Mukherjee said while presenting the interim budget 2009-10 in the Lok Sabha Monday.

Foreign investment inflow during April-December 2008 was $23.3 billion, reflecting a growth of 45 percent over the same period in 2007, Mukherjee said.

He said despite the global financial crisis which began in 2007 impacting most emerging market economies, gross domestic product (GDP) growth rate was recorded at 7.1 percent in the current year, making India the second fastest growing economy in the world.

Mukherjee said that the government had approved 37 infrastructure projects worth Rs.70,000 crore (Rs.700 billion) from August 2008 to January 2009 alone.

Under the public private partnership (PPP) model, 54 central sector infrastructure projects totalling an investment of Rs.67,700 crore (Rs.677 billion) were given in-principle or final approval, while 23 projects amounting to Rs.27,900 crore (Rs.279 billion) were approved for viability gap funding in 2008-09, he added.

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