Ques: When Foreign Investment Promotion Board was established?
a. 1995
b. 1992
c. 1991
d. 1990
Ans: c
Related facts:
- September 11, 2015 The Foreign Investment Promotion Board (FIPB) has cleared 14 foreign direct investment (FDI) proposals.
- The Foreign Investment Promotion Board (FIPB) chaired by Economic Affairs Secretary Shaktikanta Das in its meeting considered 23 FDI proposals, deferred decisions on five and rejected four.
- The FIPB approved foreign investment proposals of Eros International Media, Indian Rotorcraft, AGS Transact Technologies and O-Zone Networks etc.
- The investment proposals of Reliance Globalcom, Firefly Networks, Apollo Hospitals and Aegon Religare Life Insurance were deferred.
- The Foreign Investment Promotion Board (FIPB), housed in the Department of Economic Affairs, Ministry of Finance, is an inter-ministerial body, responsible for processing of FDI proposals and making recommendations for Government approval.
- The extant FDI Policy, Press Notes and other related notified guidelines formulated by Department of Industrial Policy and Promotion (DIPP) in the Ministry of Commerce and Industry are the bases of the FIPB decisions.
- In the process of making recommendations, the FIPB provides significant inputs for FDI policy-making.
Reference:
http://www.business-standard.com/article/economy-policy/fipb-clears-14-fdi-proposals-115091100544_1.html
http://www.thehindubusinessline.com/economy/fipb-clears-14-fdi-proposals/article7641358.ece
http://economictimes.indiatimes.com/news/economy/foreign-trade/foreign-investment-promotion-board-clears-14-fdi-proposals/articleshow/48912225.cms