Infra players not too excited by diluted NIB: Feedback

Written By Unknown on Jumat, 14 Desember 2012 | 12.44

The government cleared the Cabinet Committee on Investment, (formerly called National Investment Board) on Thursday.

The infrastructure sector has been facing tough time due to policy paralysis, slow approvals and no certainty as far as approvals are concerned. This committee will fast-track nod to mega projects (Rs 1,000 crore and above) and will be headed by the Prime Minister Manmohan Singh.

However, infrastructure players are not too excited by this diluted version of NIB , Vinayak Chatterjee, chairman, Feedback Infrastructure told CNBC-TV18.

"This committee is not very different from the existing one. It cannot override decisions made by the line ministry. It has far less teeth than what was perceived to be when proposed by Chidambaram," he elaborated.

Futher, he questioned the need to form a new CCI, which broadly mirrors the old CCI.

"If a cabinet committee on infrastructure existed all these years, who is accountable for its performance. Why didn't it perform, why do we need to abandon the CC for infrastructure and create a CC for investment with practically almost the same set of powers dedicated to it," he added.

Stay tuned for more..



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