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Union Cabinet Scraps Decades-Old Foreign Investment Regulator
Decision to dissolve FIPB was announced in the budget in February FIPB was set up after India embarked on its first market reforms in 1991 FIPB's dissolution likely after cabinet gives its approval
25 May 2017, 05:00 PM IST 
FIPB is 25-year old organisation overseeing foreign investments up to Rs. 5,000 crore.
The cabinet today put its stamp on dissolution of the Foreign Investment Promotion Board (FIPB), bringing the curtains down on the two-decade old organisation empowered to recommend clearance for foreign direct investments up to Rs. 5,000 crores.
While presenting the government's annual budget in February, Union Finance Minister Arun Jaitley had said that in keeping with plans to make India an easier place to do business, reforms fo...
