Some industry observers are not satisfied with the setting up of the Cabinet Committee on Investments (CCI) by the central government as they find it to be is a watered-down and relatively toothless body.

It may be noted that some months ago, the central government set up CCI in order to provide single window clearance to industrial and infrastructure projects worth over Rs 1,000 crore.

According to Vinayak Chatterjee, head of Feedback Ventures, the National Investment Board (NIB), Chaired by the prime minister, must include all key ministers.

He opines that the government must amend the Transaction of Business Rules, so that statutory clearances under various Acts for all infrastructure projects above a given size are granted by the board, taking into account the views of all ministries.

The Allocation of Business Rules could provide that such clearances would be issued by the Cabinet Secretariat, based on the decisions of the board, he viewed.

This would be a systemic change — ensuring a holistic consideration of complex issues and greatly accelerating decision-making.

He also called for a review of the policy of nationalisation of coal. If private sector producers are allowed in petroleum, which is a more valuable resource, there is no reason they should not be allowed in coal, he remarked in a recent column for a leading daily.