Consider the following statements with reference to the lsquo Foreign Investment Promotion Board FIP...........

Economic Affairs Foreign Investment

Consider the following statements with reference to the ‘Foreign Investment Promotion Board (FIPB)’ which was abolished recently

1.This move is aimed at making India a more attractive FDI destination and increasing FDI inflows by providing greater ease of doing business.

2.FIPB is a single window clearance mechanism for applications on foreign direct investment (FDI) in India in sectors under the government approval route.

3.The FIPB was initially set up under the Prime Minister's Office following the economic liberalisation in the early 1990s.

Which of the statements given above is/are correct?

1 and 2 only

1 and 3 only

2 and 3 only

1, 2 and 3

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Explanation:

1, 2 and 3

The abolition of the Foreign Investment Promotion Board (FIPB) is indeed aimed at making India a more attractive FDI destination and increasing FDI inflows by providing greater ease of doing business.

FIPB was indeed a single window clearance mechanism for applications on foreign direct investment (FDI) in India in sectors under the government approval route.

The FIPB was initially set up under the Prime Minister's Office following the economic liberalisation in the early 1990s.

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