Investment Commission Of India
Ministry of Finance, Government of India, established the Investment Commission of India of 2004. This Commission comprised of the three member core team that was aimed to look into this important aspect of Finance Ministry for the purpose to regulate investments on the national levels.
About Investment commission of India
A three-member Investment commission of India was setup with its core team consisting of the business tycoons Mr. Ratan Tata appointed as the Commission Chairman while rest two members of the Commission were Mr. Deepak Parekh and Dr. Ashok Ganguly to coordinate to fulfill the Commission’s purpose.
A strong purpose was realized before the setting up of Investment Commission of India. The Indian government had realized the expert opinion and the guidelines were always mandatory to smoothen investment options especially the techniques to explore for that a clear cut backdrop had been developed and studied prior to the setting up of this Commission.
The Comptroller and Auditor General (CAG) drafted a report keeping of view the multiple aspects which are related to the finance sector. An extensive research options was encouraged to minutely observe the various types of reports which are divided into subcategories but they explain the huge losses to the exchequer of the industries concerned from the coal blocks allocations to the power et al and related factors to streamline it of terms of managing funds & investments.
Composition of Investment commission of India
Mr. Ratan Tata was deliberately chosen for the post of Chairman of the Investment commission of India through keeping of view his expertise of the trade & business and due to his expertise to expect the recommendations for mines bidding of the country that could have saved all sorts of hoardings to turn easy. It worked well and Mr. Tata was pursued to take responsibility to head the Commission. It then move ahead of this regard to advice the Finance Ministry of terms of investments through Commission recommendations. Team members of this Commission worked extensively to recommend many suggestions and guidelines for nation’s financial growth avenues.
Ever since Investment Commission of India was formed and its three-members were selected as the key body to guide and offer proposals for the purposes set this Commission took keen interest and therefore highlighted many important issues to take into account. Some of the major proposals which this Commission has offered till date concentrated on the following factors:-
- Commission has proposed many proposals focusing on the bidding aspects
- Recommendations are mainly to make productive use of the coal blocks
- It has also advised many measures to ensure that all types of hoardings are prevented
- Make sure that everything related to the concerned area is used competitively
Implementation of Recommendations
Appointment of Mr. Ratan Tata as the Commission Chairman and involving two other important personalities from trade and business gave ample boost up to this three-member Investment Commission of which contributions of eminent banker, Deepak S Parekh and industry tycoon cum leader Ashok S Ganguly being included to make the team of thinkers for investment aspect and the issues related to the industry proved impactful. This team has proved a yardstick since its inception and offered the extensive solutions to the Finance Ministry.
The period from December 2004 to December 2009 has seen the drastic change of terms of multiple guidelines set for initiatives to be taken as part of implementation of recommendations. The Investment Commission of India had suggested 1,400 recommendations to the Government of Indian of the half decade aimed at pointing on the factors which could prove helpful for investment purposes through increasing its arena to make the things better for infrastructure and for manufacturing sector growths. New services of these areas were encouraged to ensure Indian economy emerges as an important knowledge economy of the whole world.
Some of the major recommendations that were solely based on industry oriented approach are that Investment Commission of India members advised to Indian government of the capacity of experts to look into the matters that were pertaining to investments of coal mining bidding and related aspects. This Commission also advised for developments of power sector and suggested several recommendations including a proposal to establish 25-30 sites for the bigger level projects for total of the 35,000mw for that huge investment of more than $30 billion were suggested by the Commission for bidding purpose.