2016 · Q30
Which of the following are the functions of foreign investment promotion board (FIPB)?
- 1To ensure expeditious clearance of the proposals for foreign investment
- 2To review periodically the implementation of the proposals cleared by the board
- 3To undertake all other activities for promoting and other facilitating FDI as considered necessary from time to time
- 4To interact with the FIPC being constituted separately by the Ministry of Industry
Select the correct answer using the codes given below:
Indian EconomyInflation and external sector
- A1, 2 and 3 only
- B1, 2 and 4 only
- C1, 2, 3 and 4
- D3 and 4 only
Explanation
The FIPB’s mandate covered expeditious clearance of FDI proposals (1), periodic review of the implementation of cleared proposals (2), all promotional and facilitative activities for FDI considered necessary (3), and interaction with the Foreign Investment Promotion Council constituted by the Ministry of Industry (4). All four are its functions. Hence (C). (The FIPB was abolished in 2017.)