The Centre has approved 14 proposals of Foreign Direct Investment (FDI) amounting to around Rs 1,584 crore.According to a release issued by the Ministry of Finance, the approval to this effect was given on the recommendations of the Foreign Investment Promotion Board. The proposals, which were approved, include Rs 674-crore plan of Maharashtra-based Abhijeet Power for induction of foreign equity in an investing company to make downstream investment and Rs 225-crore proposal of CLSA Singapore Holdings for induction of foreign equity in an investing company to carry on the business of process outsourcing services for clients, both domestic and offshore.In the telecom sector, the Government has given its nod to Netmagic Solutions to bring in FDI worth about Rs 183 crore. While 14 FDI proposals were cleared, decisions on 15 other proposals were deferred due to various reasons.