Cabinet to take final call on NIB: Chidambaram

Replying to supplementaries in the Lok Sabha, he said the the government has proposed to set up the NIB for "quicker implementation" of large projects entailing investments in excess of Rs 1,000 crore.

"Yes, the Ministry of Environment and Forest has expressed certain reservations. The matter will be placed before the Cabinet and when the Cabinet takes a final decision, we will know what the decision is and how these reservations are being addressed," Chidambaram said.

Environment Minister Jayanthi Natarajan had written to Prime Minister Manmohan Singh opposing any move to bypass required green clearances for mega project approvals by the proposed NIB.

She had said that the proposal seems to have been mooted only for the benefit of large firms and investors while having no provision for redressing the concerns of affected people.

Chidambaram said the NIB would be a Cabinet Committee on Investments, to be chaired by Prime Minister Manmohan Singh.

"NIB is a Cabinet Committee just as we have the Cabinet Committee on Economic Affairs and we have the Cabinet Committee on Political Affairs," he said.

He said there were over 100 projects, each involving investment of Rs 1,000 crore or more, that have been delayed for various reasons. (MORE)