Government scraps FIPB board to speed up the foreign investment flows

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Government scraps FIPB board to speed up the  foreign investment flows

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Finance minister Arun Jaitley cleared the proposal to scrap which will increase the flow of foreign    investment in capital inflows to Idia.

 “After Liberalisation of the FDI regime, about 90% of the foreign investments are done through the automatic route,” Jaitley said at a media briefing.

 As informed that the FIPB comes under finance ministry and it is manned by the senior officials of various ministries.

 As remaining 11 sectors,the respective ministries will look after the guidelines and clearances. As per the security has been concerned the home ministry clearance has been required'he said.

 In the last three years,he Modi government has eased 87 FDI rules across 21 sectors to accelerate economic progress and boost jobs. This, in turn, has reduced the utility of the FIPB. 

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