The defence forces have been demanding the creation of NWM at the India Gate complex where the names of the martyrs will be engraved on the walls.
"Most of the hurdles in setting up the war memorial have been cleared," said the Defence Minister, who heads the Group of Ministers (GoM) on the proposed war memorial.
The setting up of the war memorial at the India Gate complex was being opposed by the Urban Development Ministry but now they are also "on board".
In the next meeting of the GoM scheduled to be held on August 21, further decisions would be taken and after the remaining formalities are completed, it would be sent to the Cabinet for final approval.
The three services have been raising the demand for their own War Memorial in the capital to honour their men who made the sacrifice in various wars, conflicts and militancy in Jammu and Kashmir and the northeast.
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In view of the demand by the armed forces, the Government had set up the GoM on war memorial in 2009 which was being headed by Pranab Mukherjee before he became President.
The Urban Development Ministry and the Delhi Urban Art Commission have been objecting to the memorial, saying it would spoil the ambience at the India Gate.
The India Gate is a memorial for Indian soldiers killed in action during the first World War.