Press Esc to close
Tuesday 29 July 2014
News updated at 3:04 AM IST
Weather
Max: 27.7°C
Min : 20.7°C
In Bangalore
Generally cloudy

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
England's Sam Robson, left, fields the ball beside four other slips ...

England's Sam Robson, left, fields the ball beside four other slips ...

A Muslim woman performs ablution before having iftar meal on the last day of the holy month...

A Muslim woman performs ablution before having iftar meal on the last day of the holy month...

Police take top Maoist leader Sabyasachi Panda while taking him to court in Berhampur...

Police take top Maoist leader Sabyasachi Panda while taking him to court in Berhampur...

The launch of Science Express biodiversity special (SEBS) train in New Delhi...

The launch of Science Express biodiversity special (SEBS) train in New Delhi...

England's Ian Bell hits a shot during the second day of the third cricket test...

England's Ian Bell hits a shot during the second day of the third cricket test...

Bollywood music director Anu Malik, actor Sonam Kapoor, filmmaker Farah Khan and Pakistani...

Bollywood music director Anu Malik, actor Sonam Kapoor, filmmaker Farah Khan and Pakistani...

India shooter Vijay Kumar at Barry Buddon Shooting Centre in

India shooter Vijay Kumar at Barry Buddon Shooting Centre in

Muslim women offer namaz in Coimbatore on Monday during...

Muslim women offer namaz in Coimbatore on Monday during...

India gold medallist Rahi Sarnobatat and silver medallist Anisa Sayyed pose for...

India gold medallist Rahi Sarnobatat and silver medallist Anisa Sayyed pose for...

Ned McKendry of Australia is seen underwater as he...

Ned McKendry of Australia is seen underwater as he...

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