Central govt. has announced to raise the FDI limit in defence manufacturing under automatic route from 49% to ----%?
A. 100
B. 65
C. 51
D. 74
Answer:D
Central govt. has announced to raise the FDI limit in defence manufacturing under automatic route from 49% to ----%?
A. 100 B. 65 C. 51 D. 74
Explanation: Centre will notify a list of weapons/platforms for ban on import with year wise timelines for boosting defence production in India, as a part of Make in India initiative. There will be indigenisation of imported spares, and separate budget provisioning for domestic capital procurement. This will help reduce huge Defence import bill. Foreign Direct Investment limit in defence manufacturing under automatic route is being raised from 49% to 74%. Corporatisation of Ordnance factory board (OFB) was also announced. To ensure time-bound defence procurement, centre will set up a Project Management Unit (PMU) to support contract management.