Abolishing fipb RedTape herring

Foreign investment promotion board fipb.

Nearly 4 months after finance minister Arun Jaitley promised in his budget speech to abolish the foreign investment promotion board the Union Cabinet has approved its phasing out.

The fipb was set up in the already in 1990 as an intern ministerial mechanism to get investment proposal from abroad.

The department of industrial policy and promotion under the commerce ministry is no expected to formulate a standard operating procedures to process foreign direct investment application in 11 sectors that are still not in the automatic FDI approval list.

The department would have to be consulted in the line Ministries which have been empowered to take independent decisions on their investments proposed in their domain.

The government believe that once the board of history red tapism so will shrink ease of doing business will improve and investors will find India more attractive.

Find the fipb may have delayed clearance at times the efficiency of this mob will be determined by the ability of individual Ministries.

Bureaucrat or likely to remain cautious till the government carried out changes it has promised to the Anti Corruption law to protect them from the worth of auditors an investigative Agencies for Bonafide decisions taken in the line of Duty.

The travel is that even higher FDI limits have been raised significantly they are all writers and rules latest that officer need to interpret for each case.

FDI inflows have searched to record hi aptar Lal in the UPS 2nd innings and long awaited easing FDI threshold in certain sector has been carried out.

But circumstances of this rules for this IP we have been responsible for the list and enthusiastic responses from the foreign investigators in the same sectors.

For intense global insurance can help UPTU 49 Konar SIP in Indian venture but only if Indian Retail Management and control over this entities.

On the other hand Aake Ek land acquisition and labour laws continue to make it difficult for Laaj factories to come up and looking at the question on the foreign investigators Minds is this is a prime minister with a formidable preliminary maturity does not remove search obstacle now then when?

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