99. The foreign investment promotion board (FIPB) now stands abolished. Which of the following statement/s is/are correct with regard to FIPB?
99. The foreign investment promotion board (FIPB) now stands abolished. Which of the following statement/s is/are correct with regard to FIPB?
The correct option is B b) It is responsible for processing of FDI proposals and making recommendations for Government approval.
99 Ans B
Explanation:
Historical Background of FIPB
The Foreign Investment Promotion Board (FIPB), housed in the Department of Economic Affairs, Ministry of Finance, is an inter-ministerial body, responsible for processing of FDI proposals and making recommendations for Government approval. The extant FDI Policy, Press Notes and other related notified guidelines formulated by Department of Industrial Policy and Promotion (DIPP) in the Ministry of Commerce and Industry are the bases of the FIPB decisions. In the process of making recommendations, the FIPB provides significant inputs for FDI policy-making.
The FIPB was initially constituted under the Prime Minister's Office (PMO) in the wake of the economic liberalization drive of the early 1990s
b) It is responsible for processing of FDI proposals and making recommendations for Government approval.
99 Ans B
Explanation:
Historical Background of FIPB
The Foreign Investment Promotion Board (FIPB), housed in the Department of Economic Affairs, Ministry of Finance, is an inter-ministerial body, responsible for processing of FDI proposals and making recommendations for Government approval. The extant FDI Policy, Press Notes and other related notified guidelines formulated by Department of Industrial Policy and Promotion (DIPP) in the Ministry of Commerce and Industry are the bases of the FIPB decisions. In the process of making recommendations, the FIPB provides significant inputs for FDI policy-making.
The FIPB was initially constituted under the Prime Minister's Office (PMO) in the wake of the economic liberalization drive of the early 1990s
