In India, who was the initial head of the Foreign Investment Promotion Board?
Show answer & explanation
Correct answer: A
Explanation
The Foreign Investment Promotion Board in India, established in the early 1990s, initially came under the Prime Minister's Office (PMO).
However, it was later transferred to the Ministry of Finance, and functioned under the chairmanship of the Board's Secretary (Department of Economic Affairs).
Key Details:
Established: Early 1990s (after economic liberalization).
Initial Structure: Directly under the Prime Minister's Office (PMO).
Transfer: Later, it was transferred to the Department of Economic Affairs of the Ministry of Finance.
Discontinuation: Abolished by the Union Cabinet on 24 May 2017.