Which of the following are the functions of Foreign Investment Promotion Board FIPB 1 To ensure expe...........

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Which of the following are the functions of Foreign Investment Promotion Board (FIPB)?

1. To ensure expeditious clearance of the proposals for foreign investment.

2. To review periodically the implementation of the proposals cleared by the Board

3. To undertake all other activities for promoting and facilitating FDI as considered necessary from time to time

4. To interact with the FIPC being constituted separately by the Ministry of Industry

Which of the above statements are correct?

This questions was previously asked in

EPFO APFC (2015)

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1, 2 and 3 only

1, 2 and 4 only

1, 2, 3 and 4

3 and 4 only

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Explanation:

- The Foreign Investment Promotion Board (FIPB) aims to ensure quick clearance of foreign investment proposals.

- It reviews the implementation of proposals it clears.

- The board undertakes activities to promote and facilitate Foreign Direct Investment (FDI) as deemed necessary.

- Interacting with the Foreign Investment Promotion Council (FIPC) of the Ministry of Industry is also part of its functions.

Subsequent to abolition of the Foreign Investment Promotion Board (FIPB) by the Government in 2017, the work of granting government approval for foreign investment under the extant FDI Policy and FEMA Regulations, has been entrusted to the concerned Administrative Ministries/Departments.

Correct Answer: Option 3: 1, 2, 3 and 4.