(a) whether there is a proposal to enlarge the automatic licensing route as administered by the RBI and reduce the role of the FIPB;
and
(b) if so, the details thereof alongwith the reasons, therefor?
(a) whether there is a proposal to enlarge the automatic licensing route as administered by the RBI and reduce the role of the FIPB;
and
(b) if so, the details thereof alongwith the reasons, therefor?
Minister of State in the Ministry of Finance (Shri Anandrao V. Adsul)
(a) & (b): No, Sir. At present
there is no such proposal under
consideration of the Government.
Foreign Direct Investment upto
100% is permitted on automatic
route in most sectors. Approval of
FIPB is required only in a few
sectors such as broadcasting,
domestic Airlines, integrated
townships, defence industry, tea
plantations, etc. Applications made
to FIPB are considered on the
basis of notified guidelines and
normally disposed of within a time
frame of six weeks from the date of
receipt of the application.