FM suggests creation of National Investment Board for clearance of projects
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The Finance Minister P Chidambaram has suggested creation of National Investment Board for speedy clearance of mega projects. He said the board headed by the Prime Minister Dr. Manmohan Singh may take a investment proposals above 1000 crore rupees in the infrastructure sector.
He said, the gross budgetary support during the plan period has been estimated at 35.68 lakh crore rupees which translates into 5.23 per cent of GDP over the five year period.
Mr Chidambaram said direct cash transfer of subsidies in food, fertilisers and petroleum will help in the reduction of non-plan expenditure. He was speaking at the 12th plan panel meet on Saturday.
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