Explanation:

The Foreign Investment Promotion Board (FIPB) is a national agency of Government of India. It was with the remit to consider and recommend foreign direct investment (FDI) which does not come under the automatic route. More than 90 percent of the total FDI inflows are now through the automatic route. The Foreign Investment Promotion Board has successfully implemented e-filing and online processing of FDI applications. India has now reached a stage where FIPB can be phased out. The decision has been made to abolish the FIPB in 2017-2018.This step will fasten the flow of FDI to India.  A roadmap for its abolition is to be announced in the next few months.