14-05-21 Daily-Karnataka-KPSC Current Affairs

Former speaker of theKarnatakalegislative assembly Krishna, popularly known asKR Pete Krishna, died at hisMysururesidence on Friday, sources close to him said.

Krishna had served as animal husbandry and sericulture minister in SR Bommai cabinet and had represented KR Pete assembly constituency thrice in 1985, 1994 and 2004 from Janata Party,Janata Daland JD(S).

He had represented the Mandya Lok Sabha seat in 1996 and served as the speaker of Karnataka legislative assembly from 2004-08.

Foreign direct (FDI) inflows into India rose 9.8% to a record $81.7 billion in 2020-21 on a gross basis on the back of record investment into companies such asReliance Jio.
Fresh Equity inflows are estimated to have increased by an impressive 19% to $59.6 billion, while reinvested earnings went up 14% to $16.2 billion.

Singapore was the top source, which is now followed by the United States with Mauritius once the dominant source of FDI due to tax benefits under the tax avoidance treaty pushed to the third spot.

In terms of Growth, inflows from Saudi Arabia. jumped from $90 million in 2019-20 to $2.8 billion last year. And with E-Commerce and IT being the major draw for overseas investors looking to tap into the India consumption story, computer Software and hardware emerged as the most attractive sector to invest, cornering nearly 44% of the FDI equity inflows. Next was construction (Infrastructure), which accounted for a 13% share. Among the states it was Gujarat that was the top recipient, according to the Centres data, accounting for 37% of the inflows, followed byMaharashtra(27%) and Karnataka (13%).

The government has been seeking to bolster FDI especially in the manufacturing sector and some of the investments are related to companies such asApples vendors andSamsungpumping in funds to set up bigger production facilities for mobiles and electronics goods.

The government has identified close to 1,000 companies and is working withInvest Indiato tap companies that are seeking to diversify their production bases.