New Delhi Environment minister Jayanthi Natarajan may have objected to the creation of a National Investment Board (NIB) for its potential to undermine her ministry, but the finance ministry has no doubt that the biggest hurdle to investors right now is posed by Natarajan’s ministry.

In an internal note meant to be a precursor to a full-fledged Cabinet note prepared before Natarajan wrote to the Prime Minister against the idea of NIB, the finance ministry’s department of economic affairs had cited environment clearance (EC) and forest clearance (FC) as “best-known examples” of regulations impeding decision-making process.