"Function of the committee would be to identify key projects required to be implemented on a time-bound basis, involving investment of Rs 1,000 crore and more," Environment Minister Jayanthi Natarajan said in a written reply to the House.
She was responding to a query on whether there was a proposal for formation of a new board to speed up environment clearance of various projects in the country.
"While there is no proposal to constitute a new Board to speed up environment clearance of various projects, the government has decided to constitute a Cabinet Committee on Investment," Natarajan said.
The minister said the Committee will, "consider and decide measures required for expeditiously granting/refusing approvals/clearances in identified sectors including simplification of rules/procedures followed by respective ministries/department for decision making."
To an another question, she said 10 per cent of non-plan expenditure of Delhi Zoo has been cut in view of guidelines on austerity measures issued by the Finance Ministry.