Environment minister Jayanthi Natarajan had written to Prime Minister Manmohan Singh opposing any move to bypass required green clearances for mega project approvals by the proposed NIB. She had said that the proposal seems to have been mooted only for the benefit of large firms and investors while having no provision for redressing the concerns of affected people.
Chidambaram said the NIB would be a Cabinet Committee on Investments, to be chaired by the Prime Minister. He said there were over 100 projects, each involving investment of Rs. 1,000 crore or more, that have been delayed for various reasons.