Cabinet Committee on Investment
The Cabinet Committee on Investment was formed in 2013 with total 19 members with 15 of them being cabinet Ministers and the rest special invitees. The Prime Minister was the Chairman of this Committee.
Cabinet Committee on Investment was formed to improve the conditions for investment in India. It aimed at bringing greater transparency and accountability to the investments made. Another job of this committee was to give approvals and necessary clearances for implementing major infrastructure projects in India.
This committee was empowered to review all the procedures followed by various Ministries and departments and even grant or refuse approval for projects which are unnecessarily delayed.
Functions of CCI:
- Identify and recognise the projects which are to be believed at a time bound basis and involve minimum investments Rs 1000 crore.
- Identify and recognise projects which are critical in nature and require attention.
- Monitor the progress of the identified projects.
- Review the implementation of the projects and work to remove the delay causing factor in a stipulated time frame.
- Review all the Ministries and Departments involved in the projects and check the procedure followed by the responsible body in the implementation of the project.