Which of the following statement is are correct about Foreign Investment Promotion Board 1 The ...........

Finance (Phase -I & II) Banking and Financial system in India

Which of the following statement is/are correct about Foreign Investment Promotion Board ?

1.The Foreign Investment Promotion Board is a special agency in India dealing with the matters relating to Foreign Direct Investment.

2.It was set up with a view to raise the volume of investment to the country.

3.The objective of the board is to create a base in the country by which a larger volume of investment can be drawn to the country.

1 and 2

2 and 3

1 and 3

1, 2 and 3

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Explanation:

Foreign Investment Promotion Board-
· The Foreign Investment Promotion Board is a special agency in India dealing with the matters relating to Foreign Direct Investment.
· It was set up with a view to raise the volume of investment to the country.
· The objective of the board is to create a base in the country by which a larger volume of investment can be drawn to the country.
· On 18 February 2003, the board was transferred to the Department of Economic Affairs (DEA) Ministry of Finance.