The Union Finance Minister Shri Arun Jaitley has proposed to do away with the distinction between different types of foreign investments, especially between foreign portfolio investments and foreign direct investments, and replace them with composite caps. Presenting the General Budget 2015-16 in the Lok Sabha here today, the Union Finance Minister Shri Arun Jaitley stated that this was being done to further simplify the procedures for Indian companies to attract foreign investments. The sectors which are already on a 100 percent automatic route would not be affected.
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