Choose the given statement is True/False

The government has taken various steps to promote foreign investment in India.

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True

False

answer is B.

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Detailed Solution

The given statement is not correct.
The government is taking various steps to attract foreign investors and invest in India. Foreign investment has helped to give a greater choice of goods to the market of consumers. They have set up Special Economic Zones (SEZ), which have world-class facilities such as water, electricity, transport, storage, and educational facilities. Companies that have set up industries under SEZs do not have to pay taxes for the initial period. The government has also allowed flexibility in the labour laws to attract more foreign investment. Due to the setting up of new industries, consumers have a number of choices to consume.
The government has taken various steps to attract foreign investment in India.

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