Moneycontrol
Jan 26, 2016 11:42 AM IST | Source: PTI

Job creating potential must for all FIPB proposals: Cabinet Sec

The decision is aimed at ensuring jobs for more people in the country and its socio-economic development.

Job creating potential must for all FIPB proposals: Cabinet Sec

All proposals seeking approval of appraisal bodies like Foreign Investment Promotion Board and Core Group on Disinvestment need to mandatorily mention "employment generation potential", the Cabinet Secretariat has said. The decision is aimed at ensuring jobs for more people in the country and its socio-economic development.

All the notes submitted for the consideration of appraisal bodies such as Expenditure Finance Committee, Public Investment Board, Core Group on Disinvestment, Expanded Board of Railways, Foreign Investment Promotion Board (FIPB), Public Private Partnership Appraisal Committee, Telecom Commission (TC), High Powered Committee for Road Projects under the Special Accelerated Road Development Programme for North East should henceforth clearly indicate the employment generation potential of each proposal, it said.


"All appraisal bodies must make it a criterion for appraisal of the proposal before it, and appraise this aspect carefully while considering the proposal. "The minutes of the meeting of such appraisal bodies should also separately and clearly reflect the employment generation potential of each proposal," the Cabinet Secretariat said in a recent directive issued to all secretaries of central government departments seeking "strict compliance".

Earlier, all ministries were asked to mention the employment generation potential of each proposal while seeking approval of the Union Cabinet and its committees.

"In view of the fact that employment generation in various sectors is vital for country's socio-economic development, this aspect has to be an important criterion for any project or scheme appraisal," the Cabinet Secretariat had said. A handbook on preparation of notes for the Cabinet and Cabinet committees has also been modified accordingly to include this requirement.

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