Press Esc to close
Monday 02 March 2015
News updated at 9:02 AM IST
Weather
Max: 31.7°C
Min : 16.9°C
In Bengaluru
clear sky

Cabinet to vet national investment board plan

New Delhi, Nov 18, 2012, PTI:

Finance Minister P Chidambaram has indicated that the proposal to set up the National Investment Board (NIB) for expediting clearance to large projects will soon come up for approval before the Cabinet.

“The Cabinet Note is with the Cabinet Secretariat and the Prime Minister’s Office. It will be listed before the Cabinet at a time when the prime minister decides it should be listed,” he said. He said NIB is intended to address only projects where the investment is over Rs 1,000 crore and all other projects are not being brought under its purview. The minister said while the NIB would help remove delays, only in rare cases where inter-ministerial differences are there, it would take decision. “Somebody has to resolve the conflict. It can’t be that each ministry will stick to its gun and no decision will be taken. So the NIB will be the body where the government takes a decision,” he added.

He further said like Cabinet Committee on Economic Affairs, NIB is a Cabinet Committee under the Prime Minster. “All decisions taken by any Cabinet Committee are decisions of the government. NIB is no different except that the name is NIB. We can call it a Cabinet Committee on Investment,” he said.


Go to Top

Photo Gallery
Cambodian artists presenting dance-drama at the International Ramayana Mela...

Cambodian artists presenting dance-drama at the International Ramayana Mela...

Cyclist at the Rajpath as the national capital received early morning showers in New Delhi...

Cyclist at the Rajpath as the national capital received early morning showers in New Delhi...

A waterlogged street after the early morning showers in the national capital...

A waterlogged street after the early morning showers in the national capital...

A train moves through snow covered railway track as the region received heavy snowfall in Anantnag..

A train moves through snow covered railway track as the region received heavy snowfall in Anantnag..

Artists dressed up as Hindu deities Lord Krishna and Radha play Holi...

Artists dressed up as Hindu deities Lord Krishna and Radha play Holi...

People throw coloured powder as they celebrate Lathmar Holi at Nandgaon...

People throw coloured powder as they celebrate Lathmar Holi at Nandgaon...

Prime Minister Narendra Modi with the new Chief Minister of Jammu and Kashmir Mufti Mohammad Syeed..

Prime Minister Narendra Modi with the new Chief Minister of Jammu and Kashmir Mufti Mohammad Syeed..

Sangakkara and Thirimanne celebrate beating England in their Cricket World Cup match...

Sangakkara and Thirimanne celebrate beating England in their Cricket World Cup match...

Sangakkara congratulates team mate Perera who celebrates talking the wicket of England's Morgan...

Sangakkara congratulates team mate Perera who celebrates talking the wicket of England's Morgan...

Pakistan players celebrate with wicket of Zimbabwe's Chamunorwa Chibhabha during ...

Pakistan players celebrate with wicket of Zimbabwe's Chamunorwa Chibhabha during ...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523