Govt Boards

Question 1

FIPB

Answer 1

The Foreign Investment Promotion Board (FIPB), Is a ‘SINGLE WINDOW CLEARANCE’ INTER-MINISTERIAL BODY responsible for processing & recommending FDI PROPOSALS FOR GOVERNMENT APPROVAL > housed in the Department of Economic Affairs, Ministry of Finance.

In the process of making recommendations, the FIPB provides significant inputs for FDI policy-making.

The FIPB was initially constituted under the Prime Minister’s Office (PMO) in the wake of the economic liberalization drive of the early 1990s.

Recommendations of FIPB for project-proposals involving a total investment of less than Rs. 600 Crore would be considered and approved by the Finance and Company Affairs Minister and those with a total investment beyond Rs. 600 Crore would be submitted to the Cabinet Committee on Economic Affairs for decision.

The permanent members of the Board are the following:

Secretary to the Government of India, DEA, Ministry of Finance - Chairman
Secretary to the Government of India, Department of Industrial Policy and Promotion (DIPP).
Secretary to the Government of India, Department of Commerce (DoC).
Secretary to the Government of India (Economic Relations), Ministry of External Affairs (MEA).
Secretary to the Government of India, Ministry of Overseas Indian Affairs (MOIA).
Secretary, Department of Revenue (DoR), Ministry of Finance (co-opted permanently).
Secretary, Ministry of Small and Medium & Micro Enterprises (co-opted permanently).

The Board may co-opt other Secretaries to the Government of India and officials of financial institutions, banks and professional experts in industry and commerce, when required. The Secretary to the Government of India, Ministry of Small, Medium and Micro Enterprises and the Secretary to the Government of India, Department of Revenue have been co-opted on the Board.