What is the NATIONAL INVESTMENT BOARD ?
THE Department of Economic Affairs-proposed NIB — an empowered standing committee of the Cabinet that will be chaired by the Prime Minister and will include key offices like that of the Finance Minister and the Law and Justice Minister — would hear appeals from companies whose projects had been stalled on environmental grounds, and fast-track clearances.
POSITIVE POINTS ABOUT NATIONAL INVESTMENT BOARD
- National Investment Board (NIB) led by the Prime Minister is all set to assume the role of a super arbitrator to expedite clearances for major infrastructure projects.
- This is aimed at eliminating red-tape, a major variant of corruption prevalent in India.
- This is also to rectify the discretionary powers of ministries that are known for their arbitrary delays and refusals of major projects.
- NIB will be constituted as an empowered Standing Committee of the Cabinet under the chairmanship of the PM with other key members such as Finance and Law & Justice ministers.
- NIB will be supported by a secretariat engaged in identifying key projects that require continual monitoring. The initial focus will be on investments over Rs.1,000 crore in roads, mining (especially coal), power, petroleum and natural gas, ports and railway projects.
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NEGATIVE POINTS ABOUT NATIONAL INVESTMENT BOARD
- The very concept of democracy would be demeaned.
- Superceding of the decisions made over the Ministries like that of Environment and Forests ,Tribal Ministries ,Rural Development Ministries would mean that we are not serious about Environment ....because on one side we host COP 11 at Hyderabad and talk high about Environment in the international communities and on other side we talk about superceding the decisions of such Ministries by NIB.
- The question of SUSTAINABLE GROWTH arises .
- Lobbying by the elite industries and foreign players may increase corruption and increase atrocities among the local people at the concern areas hence ACCOUNTABILITY is questioned !
