FIPB to be axed

NEW DELHI, Jan 5: The Foreign Investment Promotion Board (FIPB) will be dismantled and the Reserve Bank of India will be empowered to clear ...

NEW DELHI, Jan 5: The Foreign Investment Promotion Board (FIPB) will be dismantled and the Reserve Bank of India will be empowered to clear foreign investment proposals directly, Industry Secretary and FIPB chairman T R Prasad said on Monday.

Prasad’s statement comes close on the heels of Industry Minister Murasoli Maran’s observation that the FIPB should be disbanded. Finance Minister P Chidambaram had also echoed similar sentiments a couple of days later. Maran had said that foreign capital should be allowed to seek its own destination without much curbs.

In Odisha, Modi mounts ‘loot tantra-vs-bachat utsav’ attack on Congress over GST

India2 hr ago

Prime Minister Narendra Modi Saturday hailed the revised Goods and Services Tax (GST) structures, saying the era of “double bachat (saving) and double kamai (income)” has arrived under the Bharatiya Janata Party rule. Addressing the ' Namo Yuva Samabesh' in Jharsuguda, Modi accused the Congress of indulging in “loot tantra (tactics)” while in power.

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