Investment Board Clears Rs 180-Crore FDI Proposals: Report

New Delhi: The Foreign Investment Promotion Board on Tuesday cleared six foreign direct investment proposals worth about Rs 180 crore.

Inter-ministerial body FIPB has cleared six proposals including those of Janalaxami Finance and Turmeric Vision, a Finance Ministry official said.

The panel headed by Economic Affairs Secretary Shaktikanta Das had considered 15 proposals.

Four investments proposals were rejected while decision on five were deferred for want of more inputs, the official added.

India allows FDI in over 90 per cent sectors via the automatic route. However, investment proposals in sensitive sectors like telecom and banking go through FIPB.

In last two years, the government has taken a series of reforms measures to liberalise the FDI regime.

Last month, it announced FDI liberalisation in nine sectors such as civil aviation, retail and private security services. This was the current government's second round of relaxation in these rules.

During 2015-16, FDI into the country increased by 29 per cent to $40 billion from $30.93 billion in the previous fiscal year.