Uttarakhand Affairs
After chief minister Tirath Singh Rawat announced the postponement of the Char Dham Yatra amid the rising cases of Covid-19, the government has instructed that other bookings be cancelled and that those who had booked helicopter service should be refunded.
Every year thousands of pilgrims visit Uttarakhnd for Char Dham Yatra. Keeping in mind the safety of pilgrims from across India and abroad, the has decided to postpone the Yatra. Directions have been given to Garhwal Mandal Vikas Nigam (GMVN) to refund the amount for helicopter bookings after excluding the processing fee of Rs 200. The amount will be deposited in the bank accounts of the pilgrims.
National and International Affairs
FDI inflows rise 9.8% to record $82 billion in FY21
Foreign direct (FDI) inflows into India rose 9.8% to a record $81.7 billion in 2020-21 on a gross basis on the back of record investment into companies such asReliance Jio.
Fresh Equity inflows are estimated to have increased by an impressive 19% to $59.6 billion, while reinvested earnings went up 14% to $16.2 billion.
Singapore was the top source, which is now followed by the United States with Mauritius once the dominant source of FDI due to tax benefits under the tax avoidance treaty pushed to the third spot.
In terms of Growth, inflows from Saudi Arabia. jumped from $90 million in 2019-20 to $2.8 billion last year. And with E-Commerce and IT being the major draw for overseas investors looking to tap into the India consumption story, computer Software and hardware emerged as the most attractive sector to invest, cornering nearly 44% of the FDI equity inflows. Next was construction (Infrastructure), which accounted for a 13% share. Among the states it was Gujarat that was the top recipient, according to the Centres data, accounting for 37% of the inflows, followed byMaharashtra(27%) and Karnataka (13%).
The government has been seeking to bolster FDI especially in the manufacturing sector and some of the investments are related to companies such asApples vendors andSamsungpumping in funds to set up bigger production facilities for mobiles and electronics goods.
The government has identified close to 1,000 companies and is working withInvest Indiato tap companies that are seeking to diversify their production bases.