GAAR amendments finalised: Chidambaram
Referring to the Direct Taxes Code (DTC), a bigger matter, he said, "We have now started work. This morning I spent two hours on that. Earlier I had spent several hours. We are looking at it. We have tabulated it...will take final decision."
Cabinet to take up NIB proposal soon
Chidambaram indicated that the proposal to set up the National Investment Board (NIB) for expediting clearance to large projects will soon come up for approval before the Cabinet. "The Cabinet Note is with the Cabinet Secretariat and the Prime Minister's Office. It will be listed before the Cabinet at a time when the PM decides it should be listed. But I saw in some newspapers ... that it is likely to be listed," he said.
Concerned over delays in implementation of several mega projects, Chidambaram had recently proposed setting up of NIB under the Prime Minister to clear large projects. However, environment minister Jayanthi Natarajan had raised objections to the NIB proposal.
When asked about the environment ministry views,Chidambaram said, "They have some reservation which I think the officers have explained at a meeting...with the PMO."
He said that "please remember NIB, or whatever name you call it", is intended to address only the projects where the investment is over R1,000 crore and all other projects are not being brought under its purview.”
‘Reserve Bank, govt not antagonistic to each other' Chidambaram rejected the perception that his ministry and RBI were at loggerheads over interest