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Indian Budget 2007-08- Full Text of Budget Speech

V. INVESTMENT


66. All indicators point to an accelerating rate of investment in the economy. For example, gross domestic capital formation (GDCF) in 2005-06 grew by 23.7 per cent over the previous year to Rs.11,47,254 crore. I believe that this trend continues in 2006-07. In April-January, 2006-07, foreign direct investment amounted to US$12.5 billion and outpaced portfolio investment which was US$6.8 billion.

67. Central Public Sector Enterprises (CPSEs) will, through internal and extra budgetary resources, invest Rs.165,053 crore in 2007-08. Government will provide equity support of Rs.16,361 crore and loans of Rs.2,970 crore to CPSEs.

68. Further, in the current year, we have restructured eight CPSEs with a cash infusion of Rs.1,590 crore and non-cash sacrifices of Rs.1,612 crore.

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