|Consider the following statements related to Foreign Investment Promotion Board (FIPB).|
|1. FIPB is an empowered board working under Prime Minister Office (PMQ).|
|2. FIPB is an empowered board working under Finance Ministry.|
|3. It is the only agency dealing with matters relating to FDI as well as promoting investment into the country.|
|4. It is functioning as a transparent effective and investor friendly single window clearance agency for investment proposals.|
|Which of the statements given above are correct?|
A) 1, 3 and 4
B) 2, 3 and 4
C) 1 and 4
D) 2 and 3
Correct Answer: A
Solution :[a] Statement 2 is wrong, as FIPB works under PMO and it is chaired by Secretary Industry (Development of Industrial Policy and Promotion). The objective is to promote FDI into India by undertaking investment, promotion activities in India and abroad by facilitating investment in the country through international companies, NRI and other foreign investors. It is the only agency responsible and also functions as a single window clearance agency.
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