The government had announced its resolve to set up such a board in the 2011-12 budget and later in the vision document, which aims to bring in an investment of Rs 15 lakh crore in the next 11 years as well as clock a 10% economic growth every year.
The infrastructure board has some key members, including finance minister, chief secretary and secretaries in finance, highways, public works and municipal administration departments. Apart from them, secretaries of other departments will be taken on board on a case to case basis while clearing projects pertaining to their domain.
The immediate agenda before the board is to identify projects that would kick-start faster growth and identify sources of funding. “We are waiting for the second phase of the vision document to be released by the Asian Development Bank in which detailed sector reports and project profiles will be outlined. The team behind the preparation of the report is interacting with various stakeholders to give it a final shape and we expect the report to be out soon,” said K Shanmugam, finance secretary. The first part of the vision document, which dealt with vision formulation alone, was released in March, this year.