FIPB fate in the hands of the Secretariat- DEA-DIPP warzilla!!
Should the FIBB (Foreign Investment Promotion Board) remain with the Ministry of Finance or should the Department of Industrial Policy & Promotion (DIPP) take charge? This is a burning question of immense importance asked by the PMO (The Prime Minister’s Office) to the Cabinet Secretariat, say sources, keeping in mind it is the nation’s only single-window for the commerce and industry domain.
With that happening, the DEA (Department of Economic Affairs) associated with the Ministry of Finance and the Department of Industrial Policy & Promotion (DIPP) together would now want to take measures and a stand on the FDI (Foreign Direct Investment) for the nation, however, as sources say it would be the latter which would have the final say and also would be bearing the load on framing the FDI policies and notifying the same to the nation at large.
All hopes and aspirations to resolve such conflicts now is on the new government, Team Modi as the nation looks at speeding the inflow of FDIs in the nation, which was running quite amok since 2008, say sources. With a change in the FIPB’s nodal zone as initiated by the PMO this June, there is hope which shall prevail say eminent attendees at the meeting called by the PMO.
Source – The Economic Times
DEA, DEA-DIPP warzilla, Department of Economic Affairs, Department of Industrial Policy & Promotion, DIPP, FDIs, FIPB, foreign direct investment, Foreign Investment Promotion Board, The Prime Minister’s Office
