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FDI inflows to India slump by 43 percent

New Delhi, Feb 27 (IANS) Foreign Direct Investment (FDI) in India slumped by 43.3 percent at $15.85 billion in April-November period of the current financial year as compared to $27.93 billion in the corresponding period previous year, according to the Economic Survey 2012-13 released Wednesday.

The annual document, presented in Parliament by Finance Minister P Chidambaram, said the overseas investment flows in top five services declined by 9.7 percent at $8.19 billion during the period under review.

Overall FDI inflows increased by 33.6 percent in 2011-12. Overseas investment inflows in services surged by 57.62 percent in the financial year ended March 31, 2012.

The document presented a day ahead of the Union Budget 2013-14 pointed out that the government has taken many policy initiatives to liberalise FDI policy for services sector.

"This includes increasing FDI limit from 49 percent to 74 percent in teleports and DTH and cable networks, permitting FDI up to 74 percent in mobile TV, up to 49 percent in scheduled and non-scheduled air transport services and up to 50 percent in multi-brand retail trading," it said.

"The government has also amended the existing policy on FDI in single brand product retail trading," it said.

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