What is the enhanced FIPB’s monetary limit to approve foreign investment proposals?
What is the enhanced FIPB’s monetary limit to approve foreign investment proposals?
[A]Rs 3,500 crore
[B]Rs 4,000 crore
[C]Rs 4,500 crore
[D]Rs 5,000 crore
Rs 5,000 crore
The Union government has enhanced FIPB’s monetary limit to approve foreign investment proposals of up to Rs 5,000 crore. Earlier, FIPB was allowed to approve foreign investment proposals of worth up to Rs 3,000 crore. The FIPB is headed by Secretary of Department of Economic Affairs. Beyond the ceiling of Rs 5,000 crore, Cabinet Committee on Economic Affairs (CCEA) headed by the Prime Minister will look into the proposal.