Press Esc to close
Saturday 25 October 2014
News updated at 3:33 AM IST
Weather
Max: 0°C
Min : 0°C
In Bangalore
Sunny day

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
College students walk in drizzle in Srinagar…

College students walk in drizzle in Srinagar…

People wait as three wild elephants cross…

People wait as three wild elephants cross…

Army soldiers display arms and ammunition recovered…

Army soldiers display arms and ammunition recovered…

Army Personnel inspecting their damaged vehicle…

Army Personnel inspecting their damaged vehicle…

Army personnel take positions during an encounter…

Army personnel take positions during an encounter…

Union Home Minister Rajnath Singh inspecting…

Union Home Minister Rajnath Singh inspecting…

Residents look for their belongings after a fire…

Residents look for their belongings after a fire…

Rush at Moradabad Railway Station on the eve of Bhai Dooj…

Rush at Moradabad Railway Station on the eve of Bhai Dooj…

Devotees collecting Puja Pasadam during Govardhan Puja…

Devotees collecting Puja Pasadam during Govardhan Puja…

Sikh religious warriors display their skills as they ride…

Sikh religious warriors display their skills as they ride…

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