Economy

The Foreign Investment Promotion Board (FIPB) functioning shall be made more efficient and investor friendly

Adequate Progress

FIPB’s functioning was improved by developing an upgraded and secure portal, for e-filings of FDI applications. It made the process of application simpler, transparent, easily accessible and paperless.

The BJP government, in its budget 2017, proposed the abolition of FIPB, as e-filing and online processing of FDI application had been successfully implemented and over 90% of FDi was coming into the country through the automatic route.
FIPB was an inter-ministerial body that processed FDI proposals that came through the approval route and made recommendations to the government for approval.The BJP government is yet to announce the new system of approval for FDI applications.

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