Investors have trusted the present regime's economic managementsaid Finance Minister Nirmala Sitharaman, who stated FDI into the country during the Modi government was USD 500.5 billion, which is 65 percent more than the amount received during the UPA government's ten years in office.
In response to questions about the Finance and Appropriation Bills for 2022, the minister stated that, according to a UNCTAD report, India remains among the top five foreign direct investment recipient countries in the world. Inflows of foreign direct investment (FDI) totaled USD 81.72 billion in 2020-21, up from USD 74.9 billion the previous fiscal year.
Despite the covid epidemic, she stated that the government did not use taxes to mobilise resources and that no taxes were raised to fund the economic recovery. In contrast, according to an OECD report, as many as 32 countries have raised their tax rates to fund their economic recovery. Sitharaman also stated that, similar to the virus, the conflict between Russia and Ukraine is harming other countries.
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