One of the most controversial proposals debated in the last quarter of 2012 was the setting up of a National Investment Board (NIB) for India. The idea, mooted by Finance Minister P. Chidambaram in mid-September, was about establishing an empowered body to clear large infrastructure projects of over `1,000 crore which were delayed due to lack of decisions within the government machinery. This proposal, emanating from the Department of Expenditure, Ministry of Finance, was subsequently circulated in the form of a draft cabinet note to various ministries.The Finance Minister’s logic behind the NIB. . .
