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Foreign direct investment inflows fall amid pre-election uncertainty

NEW DELHI: The flow of foreign direct investment into India is dropping and may suffer its first full-year decline since Prime Minister Narendra Modi came to power in 2014. The reversal from strong numbers in Modi’s initial years in charge may indicate that investors are being deterred by the government’s recent protectionist policies and uncertainty about this year’s general election result. Inbound foreign direct investment (FDI) dropped 7 percent to $33.5 billion in the nine months between April and December 2018, compared with $36 billion in the year-earlier period, according to figures released over…

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CalPERS creates direct investment platforms for late-stage VC, long-term PE bets

California Public Employees’ Retirement System (CalPERS), the largest US pension fund that is also a limited partner (LP) for a few Indian PE firms, on Thursday announced that it will create a new entity, CalPERS Direct, to make direct private equity investments. CalPERS joins a slew of global LPs that have active direct investments’ programmes across geographies, including India. Several LPs in India including UK’s CDC and Canadian pension funds, besides a clutch of sovereign funds, have direct investments in Indian companies as well as have a fund-of-funds exposure to…

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Direct Tax Mop Up at Rs 5.54 Lakh Cr, Indirect at Rs 5.69 Lakh Cr: Government

New Delhi: Government has collected Rs 5,54,179 crore from direct tax as on February 29 and Rs 5,69,056 crore from indirect tax as on January 31 this fiscal, Parliament was informed today. According to revised estimate, Rs 7.52 lakh crore was estimated to come from direct taxes (corporate, and income tax) and another Rs 7.03 lakh crore from indirect taxes (customs, excise and service tax), Minister of State for Finance Jayant Sinha said in a written reply to Lok Sabha. Replying to a separate query, Sinha said in 2015-16 (up to…

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