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FDI policy as contained in Consolidated FDI Policy Circular 2014 on Insurance was revised vide Press Notes dated 02.03.2015. FDI received in Insurance sector after the amendment of the policy and corresponding figures of the preceding period is as under:
Sl. No. | Sector | Period | Amount (in US$ million) | Percentage change |
1. | Insurance | March, 2015 to May, 2015 | 184.97 | (+292.38%) |
March, 2014 to May, 2014 | 47.14 |
|
Railway Infrastructure was opened to FDI vide Press Note dated 27.08.2014 and data on FDI inflows on this sector is not separately maintained. FDI policy on Real Estate sector has not been revised recently.
This information was given by the Minister of State (Independent Charge) in the Ministry of Commerce & Industry Smt. Nirmala Sitharaman in a written reply in Lok Sabha today.
FDI policy revision in insurance coincided with increased inflows; railway FDI opened but sectoral data not separately maintained. Revision of the FDI regime for the insurance sector effected by the March 2015 press note coincided with a notable increase in inflows for March-May 2015 compared with the prior year. Railway Infrastructure was opened to FDI earlier but separate inflow data are not maintained, and the Real Estate FDI policy has not been recently revised. These facts were disclosed in a written parliamentary reply by the responsible Minister.Press 'Enter' after typing page number.