Consider the following statements 1 Over the last 7 financial years 2014 21 India received FDI ...........

Economic Affairs Foreign Investment

Consider the following statements:

1. Over the last 7 financial years (2014-21), India received FDI inflow which is nearly 58 percent of the FDI received by the country in the last 21 years.

2. FDI in defence sector is allowed up to 74 per cent through automatic route for

companies seeking new industrial licenses.

Which of the statements given above is/ are correct?

1 Only

2 Only

Both 1 and 2

None of the above

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Explanation:

Explanation:

Over the last seven financial years (2014 billion which is nearly 58 percent of the FDI received by the country in the last 21 years (US$ 763.83 billion).
The FDI policy amendments, dated 17.09.2020, have been carried out of an AtmaNirbhar Bharat. Now, FDI in defence sector is allowed up to 74 per cent through automatic route (from earlier 49percent) for companies seeking new industrial licenses. FDI beyond 74 percent and up to 100 per cent will be permitted under Government route. For to 49percent resulting in change in equity/ shareholding pattern can be done by making declaration within 30 days.
Government issued Press Note dated 14.06.2021 to raise the permissible FDI limit from 49percent to 74percent in Insurance Companies under the automatic route and allow foreign ownership and control with safeguards.