Government on Tuesday approved 31 foreign direct investment (FDI ) proposals worth 3,844.70 crore rupees. An official statement said in New Delhi that a total of 55 FDI proposals were taken up by the Foreign Investment Promotion Board (FIPB), but the board deferred a decision on 18 applications, rejected three and recommended two to access the automatic route.It said, FDI proposals were cleared by FIPB in its last meeting held on 6th of this month. The Government gave its approval to Multiples Pvt Equity Fund, Mumbai to bring in foreign funds worth 1,000 crore rupees. The company can now make investments in securities of the Indian companies and distribute income realised on its investment.