FDI proposals worth Rs 48,902 cr cleared till January in FY16

New Delhi: The government has approved 285 FDI proposals worth Rs 48,902.76 crore till January this fiscal, Parliament was informed Tuesday.

Foreign Direct Investment (FDI) supplements the domestic capital and helps in bringing technology in various sectors, thereby stimulating economic growth and leading to increased exports, and employment generation, Minister of State for Finance Jayant Sinha said in a written reply to Rajya Sabha.

The government has liberalised the FDI policy to maximise benefits from FDI.

Replying to a separate query, the Minister said Life Insurance Corporation (LIC) takes the opportunity to buy stocks at reasonable valuation at the time of falling stock market.

LIC has purchased equity shares amounting to Rs 65,975.48 crore during financial year 2015-16 till February 2016.