The Reserve Bank of India (RBI) said on Monday that the country's foreign direct investment amounted to $42 billion from April 2015 to February 2016, up by 27.45 percent year-on-year.

The inflow of FDI was $32.96 billion between April 2014 to February 2015. The data released by the RBI also revealed that FDI in February this year was $3.2 billion, down from $5.14 billion in January. The net FDI (minus FDI outflow) was $34.04 billion as against $29.66 billion in the corresponding time of the last fiscal year.

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Almost 98 percent of FDI flow to the country comes automatically without much intervention from other agencies. The role played by The Foreign Investment Promotion Board (FIPB) in bringing FDI into the country has also started reducing in the last few months. Many experts believe that this is a positive sign in terms of getting investor's confidence in the country's political establishment .The present government has opend up insurance, defence, railways and the e-commerce sector to attract FDI.

India's foreign exchange reserves have gone up to by $359.75 billion as of April 1, the Reserve Bank of India said. In another data released by the RBI, the country's foreign exchange reserves stood at $359.75 billion as of April 1 as against USD 355.55 billion in the week ending 25 March, 2016.

As at April 1, foreign currency assets stood at $335.68 billion, gold $20.11 billion, with special drawing rights of $1.5 billion and the reserve position with International Monetary Fund (IMF) stood at $2.45 billion.

TagsFDI, India, Researve Bank of India