New Delhi: In India these days due to recession the situation is turbulent. Many sectors are plagued by recession. Their condition is getting worse due to no demand. This is adversely affecting jobs. Due to this, foreign investors are withdrawing money from the Indian market. Foreign portfolio investors ie FPIs have withdrawn Rs 5,920 crore from Indian capital markets in August.
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According to Morningstar's Senior Analyst Manager Research Himanshu Srivastava, the withdrawal from capital markets (shares and debt) in August is contrary to expectation as the government announced the withdrawal of the decision to increase the tax surcharge on foreign and domestic investors on the Super Rich in the last week. According to the latest depository data, between August 1 and 30, FPIs pulled out Rs 17,592.28 crore net from the shares.
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During this period, he netted Rs 11,672.26 crore in the debt or bond market. His total withdrawal thus far stood at Rs 5,920.02 crore. In July, foreign investors netted Rs 2,985.88 crore from the capital market. Earlier, FPIs had invested Rs 10,384.54 crore net in the Indian capital markets in June, Rs 9,031.15 crore in May, Rs 16,093 crore in April, Rs 45,981 crore in March and Rs 11,182 crore in February. The government has announced the withdrawal of the increased surcharge imposed on FPIs last week.