Press Esc to close
Friday 22 May 2015
News updated at 3:19 PM IST
Weather
Max: 31.5°C
Min : 22.8°C
In Bengaluru
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
Textile Minister Subash Desai at the inauguration of Textile Park...

Textile Minister Subash Desai at the inauguration of Textile Park...

Mangoes on sale in the wholesale fruit market during summer season in Bhopal...

Mangoes on sale in the wholesale fruit market during summer season in Bhopal...

Actress Aishwarya Rai Bachchan walks during the 68th Annual Cannes Film Festival...

Actress Aishwarya Rai Bachchan walks during the 68th Annual Cannes Film Festival...

An Indian Air Force (IAF) Mi-17 V5 helicopter returns on Tuesday after dropping relief recent Nepal.

An Indian Air Force (IAF) Mi-17 V5 helicopter returns on Tuesday after dropping relief recent Nepal.

Mirage 2000 fighter aircraft of the Indian Air Force successfully lands on the Yamuna Expressway...

Mirage 2000 fighter aircraft of the Indian Air Force successfully lands on the Yamuna Expressway...

Girls paying floral tribute to former prime minister Rajiv Gandhi on his death anniversary...

Girls paying floral tribute to former prime minister Rajiv Gandhi on his death anniversary...

A Mahout sits on his elephant in Sabarmati river before giving bath to protect from heat...

A Mahout sits on his elephant in Sabarmati river before giving bath to protect from heat...

A Barn Swallow chicks inside a nest in Srinagar...

A Barn Swallow chicks inside a nest in Srinagar...

A cattle egret feeding its offsprings at nest on a tree in Guwahati on Thursday...

A cattle egret feeding its offsprings at nest on a tree in Guwahati on Thursday...

An Indian man takes bath under the tap of a water tanker on a hot day in Ahmadabad...

An Indian man takes bath under the tap of a water tanker on a hot day in Ahmadabad...

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