NEW DELHI: Foreign investors pumped in a record Rs 57,000 crore in Indian capital markets in March, buoyed by expectations that BJP 's victory in assembly polls is a precursor to more "bold, reformist policies".With the latest funds mobilisation, net investment by FPIs in the capital markets -- equity and debt -- reached a little over Rs 49,000 crore in 2016-17.In the just-concluded fiscal, FPIs invested a net sum of over Rs 56,000 crore in equities while they pulled out Rs 7,000 crore from the debt market According to depository data, foreign portfolio investors (FPIs) infused a net sum of Rs 31,327 crore in equities in March and another Rs 25,617 crore in the debt segment, translating into a combined inflow of Rs 56,944 crore (USD 8.7 billion).This was the highest net inflow by FPIs in a single month since 2002 when segregated data for equities and debt were available with Sebi The latest inflows follow a net investment of Rs 15,862 crore in equity and debt in February. Prior to that, FPIs had pulled out a total of over Rs 80,000 crore from October to January.Investors believe that the government will continue with its bold reformist policies following a huge BJP win in Uttar Pradesh and Uttarakhand, Bajaj Capital Senior V-P and Head Investment Analytics Alok Agarwala said."This decisive win in the largest state by population (UP) is positive for FPI sentiment and resulted in higher FPI inflows as overseas investors get more bullish about the continuance of the reforms process in the country," he explained.The BJP formed government in four of the five states that went to polls recently. It formed government in UP, Uttarakhand, Manipur and Goa while in Punjab, the Congress came to power.Geojit Financial Services Chief Market Strategist Anand James said: "The prospects of a gradual US rate hike look to have improved the risk appetite. This should also mean, save a negative surprise from monsoon forecast, fourth quarter numbers should prompt investors to be forward looking."