FIPB phase out mechanism to be ready in couple of months: Das
"We will come out with a revised mechanism. The powers will be delegated to the regulators or to the individual ministries or department (for dealing with remaining 10 per cent FDI proposal which requires government approval)," Das told PTI in an interview.
Finance Minister Arun Jaitley in his Budget 2017-18 announced abolishing FIPB saying 90% of the foreign investment approvals are via the automatic route. Photo: IANS