|Black money estimated at 30% of GDP|
|Calculation based on a global study indicates Rs 28 lakh-crore parallel economy|
Rs.1,311 cr worth FDI proposals cleared
A major proposal pertained to Mumbai-based Hindustan Port Ltd. which sought to induct foreign capital worth Rs.440 crore for investment in downstream companies.
Pharmaceutical firm Aanhaneya Lifecare also received the government’s nod to raise funds worth Rs.405 crore through the issue of foreign currency convertible bonds.
While U.S.-based Gavis Pharma LLC has been given permission to invest Rs.73.75 crore in an Indian company engaged in manufacturing injectable products, Punjab-based pharma company Saurav Chemicals Ltd has received consent to issue fresh equity shares valued at Rs.14.85 crore to a foreign company.