FIPB To Remain Under Finance Ministry
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Prime Minister Narendra Modi intervened to end the battle between the department of industrial policy and promotion (DIPP, at present, is a part of the Ministry of Commerce and Industry. "It has been decided that FIPB will remain with the Finance Ministry," a senior government official said. The Modi government wants to ensure that the policy regime encourages foreign investors to invest in the country.
In order to ensure effective coordination between ministries, Modi had given
The Department of Economic Affairs (DEA), which is a part of the Finance Ministry, had also asked for absolute control of the FIPB, including the policy on foreign direct investment.
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