Public Investment Board

Press Information Bureau

Government of India

Ministry of Finance

20-December-2012 17:53 IST

A proposal was submitted for constitution of a Cabinet Committee with the Prime Minister as the Chairman to expedite decisions on approvals/clearances for implementation of projects. According to the proposal, the Cabinet Committee would monitor and review the implementation of major projects to ensure accelerated and time bound grant of various licenses, permissions and approvals. The Cabinet Committee would also prescribe different time limits, in consultation with the concerned Ministries, for taking decisions on different types of approvals and clearances for projects. The Ministry/Department would be expected to take a decision after due diligence on the applications within the stipulated time period. In case the decision is not taken within the stipulated time period, the Cabinet Committee would look into the reasons for delays and facilitate decision-making on critical issues to de-bottleneck key impediments by fast-tracking the required approvals/clearances.

The proposal was considered in the Cabinet Meeting held on 13th December 2012, which decided to constitute a Cabinet Committee on Investments. The Cabinet Note was based on the comments received from various Ministries/Departments pursuant to the draft Cabinet Note circulated earlier for inter-ministerial consultations.

This was stated by the Finance Minister Shri P. Chidambaram in reply to a question in the Rajya Sabha today.

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