To speed up clearances for mega infra projects, the Union Government has decided to establish National Investment Board. Describing the scaled down growth target of 8.2 per cent for the 12th plan as 'realistic', Finance Minister P. Chidambaram said, the cabinet was expected to establish a National Investment Board(NIB, to be headed by Prime Minister) this week, to speed up clearances for projects that are now bounced from one ministry to another in a process that can stretch for years and frustrates investors.
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