FDI dips by 47 per cent in May

During the same month last year, FDI was $ 3.9 billion.

“The declining trend is likely to continue in the coming months. FDI in the first two months of this fiscal is $ 4.43 billion,” the official said.

The government had scaled down the FDI target by $ 5 billion from $ 35 billion last fiscal. Cumulative FDI from April 2000 to March 2009 stands close to about $ 90 billion. FDI in 2008-09 was $ 27.3 billion against $ 24.5 billion in 2007-08.