The government has approved 17 foreign direct investment (FDI) proposals of 1,158 crore rupees in the country. Among the major proposals which were approved on Tuesday are the FDI applications of the world's largest steelmaker Arcelor Mittal with an FDI of Rs 503 crore rupees and ductile iron pipe maker Electrosteel Castings bringing in FDI worth of 600 crore rupees. According to an official release, meanwhile, the government has deferred a decision on 12 FDI proposals and rejected five on the recommendations of the Foreign Investment Promotion Board (FIPB).