Prelude : Big investments in infra and industries were getting delayed after being stuck up in different ministries for clearance and approval. --> Project delayed and escalation in project cost --> Slowdown in Economy (all cascading effects)
So, Finance ministry came up with the idea of NIB. The idea was if all the matters related to approvals and clearances will be handed over to a separate authority (set up with the sole purpose of expediting things), things will move faster.
But, it was opposed vehemently by other ministries, especially the MoEF, because the NIB was taking away some of the environmental approvals.
Also, it feared that, if approving a project is going to be the sole motive of NIB, then other aspects will be compromised.
So, as a toned down measure, the cabinet has decided in favor of a CCI (Cabinet Committee on Investments) rather than setting up an NIB.
CCI will be a cabinet sub-committee having all the concerned ministries on the same table.
It will also subsume Cabinet Committee on Infrastructure.
So, Finance ministry came up with the idea of NIB. The idea was if all the matters related to approvals and clearances will be handed over to a separate authority (set up with the sole purpose of expediting things), things will move faster.
But, it was opposed vehemently by other ministries, especially the MoEF, because the NIB was taking away some of the environmental approvals.
Also, it feared that, if approving a project is going to be the sole motive of NIB, then other aspects will be compromised.
So, as a toned down measure, the cabinet has decided in favor of a CCI (Cabinet Committee on Investments) rather than setting up an NIB.
CCI will be a cabinet sub-committee having all the concerned ministries on the same table.
It will also subsume Cabinet Committee on Infrastructure.
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