Tags:
Journalism of Courage
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.
Prasad8217;s statement comes close on the heels of Industry Minister Murasoli Maran8217;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.
