Arab Today, arab today ‘india needs speedy clearance of projects’
Last Updated : GMT 12:31:35
Arab Today, arab today
Arab Today, arab today

‘India needs speedy clearance of projects’

Arab Today, arab today

Arab Today, arab today ‘India needs speedy clearance of projects’

New delhi - Arabstoday

Concerned over delay in implementation of projects, India’s Finance Minister (FM) P Chidambaram on Saturday suggested setting up a National Investment Board (NIB) under Prime Minister to accord speedy clearances to mega projects. “The NIB’s authority should extend to proposals/projects where the investment is above a certain threshold, say, Rs1,000 crore. Once the final decision is taken by the NIB, no other Ministry or Department or Authority should be able to interfere with that decision or delay its implementation,” he said during his intervention at the meeting of the full Planning Commission. Chidambaram regretted that under the present dispensation, “a truly `final’ decision (on projects) does not emerge for many years”. He said outlays in the 11th Five Plan felt short of targets mainly because of failure to achieve targets. Giving illustrations, the Minister pointed out that addition in power generation capacity during the Plan period was 55,000 MW as against the target of 78,700 MW. Similar shortfalls were witnessed in other key sectors like coal, crude oil, gas and railways. In order to overcome these problems, Chidambaram said: “I would urge that we seriously consider the need to set up a mechanism at the Cabinet level to take final decisions on major investment proposals, especially in the infrastructure sector. “The authority to take the final decision/decisions should be vested in a NIB to be chaired by the Prime Minister and the Allocation of Business Rules should be amended to create such a mechanism”, he added. At present, the Business Rules allocate the authority to take the final decision to one or more ministries The outcomes, Chidambaram said, “must be measured not only in terms of achieving the financial outlays but also achieving the physical targets. The main reason why actual growth rate in each Plan period was less than the targeted growth rate was the failure to achieve physical targets”. Referring to the 8.2 per cent growth target in the 12th Five Year Plan (2012-17), he said, it was “realistic” given the fact the Gross Domestic Product (GDP) grew by 7.6 per cent in the 10th Plan and 7.9 per cent in the 11th Plan. The Minister, however, described the 12th Plan’s proposal to reduce subsidy from 1.9 per cent of GDP in the budget estimates of 2012-13 to 1.2 per cent in 2016-17 as “over-optimistic”. According to the Minister, “the estimated major subsidies in 2012-13 would be around 2.4 per cent of GDP, and a sharp fall as assumed in the Plan may be over-optimistic. Direct cash transfer of subsidies in food, fertilisers and petroleum will help in this reduction. Indian Prime Minister Manmohan Singh and  Deputy Chairman of Planning Commission Montek Singh Ahluwalia wer present at the Planning Commission meeting in New Delhi on Saturday.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today ‘india needs speedy clearance of projects’ Arab Today, arab today ‘india needs speedy clearance of projects’

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today ‘india needs speedy clearance of projects’ Arab Today, arab today ‘india needs speedy clearance of projects’

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Taxi! Transport gets an overhaul

GMT 12:09 2017 Sunday ,24 September

Taxi! Transport gets an overhaul
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Turkey warns of 'security' steps

GMT 12:17 2017 Sunday ,24 September

Turkey warns of 'security' steps
Arab Today, arab today North Korea 'more opaque'

GMT 10:50 2017 Sunday ,24 September

North Korea 'more opaque'
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today 'Lady Beast' fights for girl gamers

GMT 10:27 2017 Sunday ,24 September

'Lady Beast' fights for girl gamers
Arab Today, arab today Psychologists help Mexico deal

GMT 05:05 2017 Sunday ,24 September

Psychologists help Mexico deal
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Carmakers face billions in European

GMT 12:37 2017 Saturday ,23 September

Carmakers face billions in European
Arab Today, arab today Mercedes pumps 1 bln euros    

GMT 06:04 2017 Friday ,22 September

Mercedes pumps 1 bln euros    
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Big Western brands polluting oceans

GMT 20:10 2017 Saturday ,23 September

Big Western brands polluting oceans

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 18:11 2017 Saturday ,23 September

Doctor provides advices to families

GMT 13:36 2017 Saturday ,23 September

unveils Joon - the 'millenials' airline

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday