Govt likely to clear proposal to set up NIB

November 10, 2012 19:18

The government is likely to approve in the next two-three weeks the proposal to set up National Investment Board for fast-tracking clearance to large infrastructure projects, Planning Commission Deputy Chairman Montek Singh Ahluwalia said today.

"There is a draft Cabinet note proposing it. Some ministries have opposed it. It is going through some official method of resolving those issues. My hope is that it will come to the Cabinet soon,"Ahluwalia said.

Supporting the proposal to set up NIB, he said, "We need an overarching mechanism. We categorically feel that the present system is dysfunctional. The finance minister has suggested a specific way of doing that (by setting up NIB)".

« Back to LIVE

TOP STORIES

'Can Rs 24k SIP help me get Rs 1 cr?'

rediffGURU Ramalingam Kalirajan answers your personal finance queries.

How To Deal With Office Politics? Ask rediffGURUS

rediffGURU Krishna Kumar offers expert advice on how you can polish your skills and perform better at work.

Siree Feels Like A Breath Of Fresh Air

Siree Lella's fashion choices are ideal for the summertime.

Will Thiruvanathapuram Elect Tharoor A 4th Time?

24 hours before campaigning ends in Thiruvanathapuram, Archana Masih/Rediff.com discovers Shashi Tharoor and his BJP rival Rajeev Chandrasekhar are busy getting their message across to voters.

Sachin Tendulkar turns 51: Throwback to his glorious performances at ICC events

After hitting runs all over the ground throughout a two-decade glorious career filled up with many centuries and fifties, legendary Indian cricketer Sachin Tendulkar, widely regarded as the greatest batter after Sir Don Bradman, turned...