Cabinet has approved the proposal to amend foreign investment rules in which sector

2016

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	E-commerce
B	NBFC
C	Mobile commerce
D	None of the above

Explanation:

Detailed explanation-1: -The latest amendment has brought sweeping changes in FDI norms for SBRT, thereby enticing significant foreign brands into India’s promising retail space.

Detailed explanation-2: -The eleven notified sectors/activities requiring government approval are: Mining, Defence/cases relating to FDI in small arms. Broadcasting. Print media.

Detailed explanation-3: -The present policy prohibits FDI in the following sectors: Gambling and Betting. Lottery business (including government/ private lottery, online lotteries etc) Activities /sectors not open to private sector investment (eg, atomic energy /railways)

Detailed explanation-4: -Proposals for raising FDI beyond 49% from such companies will require Government approval. Licence applications will be considered by the Department for Promotion of Industry and Internal Trade, Ministry of Commerce & Industry, in consultation with Ministry of Defence and Ministry of External Affairs.

Detailed explanation-5: -The correct answer is Services Sector. For economic growth, Foreign Direct Investment (FDI) has been a major non-debt financial resource for the economic development of India. The services sector in India received the highest share in FDIs amounting to over 554 billion Indian rupees in the fiscal year 2020.

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