Huge fall in Foreign Direct Investment into Bihar, Jharkhand
Patna,(BiharTimes): Bihar and Jharkhand witnessed a decline by 294 per cent in the cumulative Foreigm Direct Investment (FDI) in the first three quarters––or nine months––of the financial year 2017-18 in comparison to the figure recorded during the corresponding period of the previous fiscal.
As per the data of the Patna regional office of the Reserve Bank of India, which covers both Bihar and Jharkhand, the FDI inflow into these two states between April 1 and December 31, 2016 stood at Rs 69 crore.
The figure for these two states in the period between April 1 and December 31, 2015 stood at Rs 272 crores or $ 43 million.
However, the figure in the first nine months of the just concluded fiscal is better than that of the entire financial year of 2014-15. It was just was Rs 58 crore.
It needs to be mentioned that the Department of Industrial Policy and Promotion under the Union ministry of Commerce compiled statements of FDI inflows collected from 18 regional offices of RBI.