| Consider the following statement regarding the (Foreign Investment Promotion Board) FIPB: |
| 1. FIPB's functions are concerned with FDI (Foreign Direct Investment) through both automatic and government approval route. |
| 2. Recommendations of FIPB for proposals up to |
| Rs. 1200 crore are approved by Minister of Finance. |
| 3. Recommendations for proposals of more than Rs. 1200 crore needs to be approved by Cabinet Committee on Economic Affairs (CCEA). |
| 4. FIPB is mandated to play an important role in the administration and implementation of the Government's FDI policy. |
| Which of the above statements is or are correct? |
A) 1, 2, 3
B) 2, 3, 4
C) 1, 2, 4
D) 1, 3, 4
Correct Answer: B
Solution :
[b] FIPB only considers FDI proposals under Government approval route and not through automatic route
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