US $1,295mn foreign equity in urban projects in a year

US $1,295mn foreign equity in urban projects in a year

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Urban Development Minister M Venkaiah Naidu has said that Foreign Direct Investment of US $1,295.05 mn (Rs.7,924.85 cr) as equity had flown into various urban projects in the country during April 2013 –April 2014

The minister was responding to a question raised by Poonamben Maadam in the Lok Sabha recently.

The beneficiary projects included construction of townships, housing, infrastructure development etc., spread across 22 states/Union Territories, according to Naidu.

Delhi topped the list of recipients of such FDI with an investment of US $565.97 mn, followed by Chennai (US $220.84 million ), Mumbai (US $177.04 million) and Ahmedabad (US $131.77 million).

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