Among the following in which sector of India, the Foreign Direct Investment (FDI) is prohibited?
Under India's Consolidated FDI Policy and the Foreign Exchange Management (Non-Debt Instruments) Rules, 2019 issued under the Foreign Exchange Management Act, 1999, Foreign…
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Among the following in which sector of India, the Foreign Direct Investment (FDI) is prohibited?
Answer and explanation
Correct answer B
Under India's Consolidated FDI Policy and the Foreign Exchange Management (Non-Debt Instruments) Rules, 2019 issued under the Foreign Exchange Management Act, 1999, Foreign Direct Investment (FDI) is completely prohibited in the Lottery business, including government and private lotteries as well as online lotteries. By contrast, FDI is permitted in Defence (up to 74% under the automatic route and up to 100% under the government route), Health care (up to 100% under the automatic route for greenfield projects and hospitals), and Print media (up to 26% for news and current affairs publications under the government route).
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Andhra Pradesh SET (APSET)