Government schemes attracting foreign investors, says minister

Government schemes attracting foreign investors, says minister

Minister for Commerce and Industry Nirmala Sitharaman said that the foreign direct investment risen since the NDA government assumed office in May 2014.

Speaking to mediapersons, she said that the Modi-led government has taken steps to attract foreign investment in the country. “As a result, India continues to remain among top choices for foreign investors. India was in the ninth position in attracting foreign investment when the government came to power. The government has liberalised FDI policy in railways, insurance and defence sectors. About Rs 36,500 crore have been saved through Direct Benefit Transfer (DBT) scheme,” she explained.

She said that the government is committed to deal with the menace of black money in the country and Black Money Act has been enacted. “The Congress leaders have failed to understand the measures taken by the Centre in checking black money. With the tight rules of the government, about 21,000 crore undeclared assets have been identified,” she pointed out.

“A new clause of royalty is included while auctioning minerals. As a result, the collected royalty amount will be used for the development of the district where the minerals are extracted,” she added.

To a query on the response to Twitter Seva for start ups on the social media site started by her – hashtag #MOCISEVA – the minister said that the response has been unbelievable. “Under this, any start up, or anyone keen on setting up a start up can tweet a query to Commerce and Industry Ministry with a grievance or a suggestions with the hash tag #MOCISEVA,” she said, adding that the team has been able to address about 98 per cent of the queries.

‘Decision of EC’
To a query on Rajya Sabha election causing a furore over the phenomenon of horse-trading, the minister said that the decision of the Election Commission is final in the matter. She refused to comment further and said, “I am a candidate and I will not react on the issue.”
DH News Service

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