The government is contemplating increasing the limit for large FDI investments that require the approval of the Cabinet Committee on Economic Affairs (CCEA) from Rs 5,000 crore to Rs 15,000 crore with an aim to further liberalize FDI inflows.Currently, the Ministry or department in charge of the relevant sector can approve any FDI proposal that requires government clearance and entails an investment of less than Rs 5,000 crore, according to the source privy to the development.However, ministries and departments will have the authority to approve investments up to Rs 15,000 crore if the new proposal is approved.A reassessment of the current limitation is required due to the present economic situation, inflation, the increasing size of investments over time, and the goal of fostering ease of doing business, the sources added.The limitation was previously changed from Rs 3,000 crore to Rs 5,000 crore in March 2016. Prior to 2010, the CCEA had to approve all FDI bids exceeding Rs 600 crore. It was increased to Rs 1,200 crore in February 2010 and Rs 3,000 crore in April 2015.In May 2017, the Foreign Investment Promotion Board (FIPB) was abolished in tandem with this liberalization of restrictions.This latest proposal comes after the rupee and current account came under pressure and the government took a number of measures to increase foreign investment inflows.The government operationalized FDI in e-commerce for exports last week. A proposal to exempt foreign companies from requiring new licenses for downstream developments is also being considered.The Standard Operating Procedure (SOP) for processing FDI proposals was revised in May by the Department for Promotion of Industry and Internal Trade (DPIIT). This was done in order to digitize and simplify the approval process for FDI projects that need a government approval.The 2017 framework was replaced by the SOP, which also added further standards for compliance, disclosure, and monitoring. The disposal period is extended from 10 weeks to 12 weeks. However, it sets a deadline for clearances from the Reserve Bank of India (RBI), the Ministry of External Affairs (MEA), and the Ministry of Home Affairs (MHA) for security clearance.Mauritius, Singapore, US, Netherlands, Japan, UK, and the United Arab Emirates are among the top sources of foreign direct investment.