Mumbai, Union Finance Minister Nirmala Sitharaman on Monday said India is delivering good returns to investors who are booking profits. Replying to a question on selling by foreign institutional investors (FIIs), Sitharaman said India has an environment where investments are yielding good returns.
Finance Secretary Tuhin Kanta Pandey added that in times of global volatilities like the one that is being witnessed, the FIIs tend to go back to their country of origin which is mostly the US.
He said India is the fastest growing major economy and will continue to grow going ahead as well.
To a question on inflation, Sitharaman said the government’s supply measures and the Reserve Bank’s demand-side initiatives are working in tandem to control price rise.
Meanwhile, the Department of Financial Services Secretary M Nagaraju said the government is “actively considering” raising the Deposit Insurance and Credit Guarantee Corporation (DICGC) cover beyond Rs 5 lakh.
