Industrial Policy - Govt. of India

Industrial Policy dt. 14-06-2002

No.1(13)/2000-NER
Government of India
Ministry of Commerce & Industry
(Department of Industrial Policy & Promotion)

New Delhi, dated 14th June, 2002 

OFFICE MEMORANDUM

Subject: New Industrial Policy and other concessions for the state of Jammu & Kashmir.

The Government of Jammu & Kashmir has requested for a special package for development of industries in the state on the lines for the North East Industrial Policy notified by the Central Government vide Ministry of Industry’s OM No.EA/1/2/96-IPD dated 24th December 1997. Discussions on Strategy and Action Plan for Development of Industries and generation of employment in the state of Jammu & Kashmir were held with the various related Ministries on the issues interalia, infrastructure development, financial concessions and easy market access.

2. Keeping in view the fact that the state of Jammu & Kashmir lags behind in industrial development, a need has been felt for structured interventionist strategies to accelerate industrial development of the state and boost investor confidence. The new initiatives would provide the required incentives as well as an enabling environment for industrial development, improve availability of capital and increase market access to provide a fillip to the private investment in the state.

3. The matter has been carefully considered by the Government and it has been decided to provide the following package of incentives for the state of Jammu & Kashmir.

3.1 Fiscal Incentives to new Industrial Units and substantial expansion of existing units:

i) New industrial units and existing industrial units on their substantial expansion as defined, set up in growth center, industrial infrastructure development centers (IIDCs) and other locations like industrial estates, parks, export processing zones, commercial estates, etc., as notified by the Central Government are entitled to 100% (hundred percent) excise duty exemption for a period of 10 years from the date of commencement of commercial production. 

ii) All New industries in the notified location would be eligible for capital investment subsidy @ 15% of their investment in plant & machinery, subject to a ceiling of Rs. 30 lakhs. The existing units will be entitled to this subsidy on substantial expansion, as defined.

iii) An interest subsidy of 3% on the working capital loan would be provided to all new industrial units in notified locations for a period of 10 years after commencement of commercial production. This benefit would also be extended to existing units in notified locations on expansion, as defined, as well as to Annexure-II Thrust Industries.

iv) The insurance premium to the extent of hundred percent on capital investment for a period of 10 years would be extended by the Central Government to all new units and to existing units on substantial expansion, as defined.

v) The present income tax exemption would continue as per the existing dispensation applicable to Jammu & Kashmir. The State Government may consider extending Sales Tax exemption to the units which avail of concessions under this Policy.

 

3.2 Development of Industrial Infrastructure:

The financing pattern of Integrated Infrastructure Development (IID)centres will change from 2:3 between Government of India and SIDBI to 4:1, and the GOI funds would be in the nature of a grant, so as to provide the required infrastructural support.

 

3.3 Other Incentives:

(i) Design-cum-Resource Centre for Footwear & Leather Industry:

Leather goods and shoes as well as items of fur are being manufactured in the Small Scale Industry/Tiny sector traditionally in Srinagar and Jammu. The Central Government would make an initial contribution of Rs.1.00 crore as grant for setting up a Design/Resource Centre and National Leather Development Programme (NLDP) would provide assistance for machinery, training and salaries of professionals. Under the National Leather Development Programme, exclusive assistance would be provided to market finished leather products of the artisans of the state in the form of buyers-seller meets and exhibitions.

(ii) Ministry of Textiles will extend their package of assistance as applicable to the North Eastern Region, to the state of Jammu & Kashmir on same terms and conditions.

 

3.4 Setting up of Jammu & Kashmir Development Finance Corporation

(i) Jammu & Kashmir Development Finance Corporation (JKDFC) shall be set up by the Central Government with a one time provision of Rs. 50 crore on the lines of North East Development Financial Corporation. This Corporation shall provide term loan, working capital and other infrastructural support in the state of Jammu & Kashmir in the lines of NEDFi in the North East. 

(ii) JKDFC would be designated as the Nodal Agency for routing the subsidies/incentives under various schemes notified under this Policy.

 

3.5 The above concessions/subsidies shall be available to all new units/existing industrial units on their substantial expansion as defined, in the notified industrial areas by the Central Government (Annexure-I) and thrust industries (Annexure-II) irrespective of location.

Explanation:

(i) The eligible areas for above concessions and thrust industries are as identified in Annex-I & II respectively.

(ii) The notification regarding definition of substantial expansion of the existing units shall be issued separately.

 

3.6 Ineligible Industries under the policy:

Cigarettes/cigars of tobacco, manufactured tobacco and substitutes, distillation/brewing of alcoholic drinks and manufacture of branded soft drinks and its concentrates are excluded for the purpose of concessions under this policy.

4. Government reserves the right to modify any part of the policy in public interest.

5. The Ministry of Finance, Department of Revenue are requested to amend Act/rules/notifications, etc. and issue necessary instructions for giving effect to these decisions.

( S.Jagadeesan )
Joint Secretary to the Govt of India

Annexure - I

Identified locations for notification under the new Industrial Policy for the state of Jammu & Kashmir

A. New Locations:

(i) District Srinagar:

Village Kanmoh (Zabarwan Hills sorrounding), Khrew

(ii) District Pulwama:

Lassipora, Nowpara Bala, Acchan, Tantraypora, Punjran

(iii) Industrial Area/Industrial Model Town/Industrial Cities to be set up by the J&K Government.

(iv) District Kathua:

Logat, Sehr, Uttri, Barwal, Cek Ramchand, Logat Morh, Sooni, Gagwal, Chenkatrian, Pyal, Katal Brahmana, Chedwal, Urnanan

(v) District Srinagar

Village Mujgund (area earmarked as industrial zone under the approved town plan of district Srinagar).

Existing Locations

B. Existing Industrial Estates run by Directorate of Industries (DIC), Small Scale Industries Corporation (SICOP), State Industrial Development Corporation, (SIDCO) as per Enclosures I to III.

C. Commercial Estates established on private land throughout the state as under:

1. Jammu District:

Topsherkhani, Barnai (Muthi), Kartholi, Village Dilli, Narwal, Ramgarh, Kangrial, Muralian, erstwhile mill area of R.S. Pura.

2. Kathua District:

Hathlimorh, Chek Raju, Chek Ramsingh (units of Chenab Textile Mills)

3. Udhampur District:

Panthal, Reasi

4. Srinagar District

Baghi Ali Mardan Khan, Ganderbal, Parimpora, Kanmoh (outside Industrial area)

5. Pulwama District:

Pampore, Khrew (lime stone area), Ladoo of District Pulwama

6. Kupwara District:

Batergam, Drugnulla, Ober

D. Areas to be notified as extension of Existing Industrial Areas.

1. District Jammu:

Village Birpur, Smailpur, Majalta, Kartholi, Minsarkar, Yakmorh, Parmandal, Patlimorh, Sarore, Tarore, Kanthpur, Diana

2. District Kathua:

Hathlimorh, Gobindsar, Chack Khuni, Chack Sarkar, Chack Partap Singh, Maroli, Mahatab Pur, Dharote, Lakhenpur, Chack Kota, Jagatpur

Enclosure-I

Identified Industrial Locations

Enclosure-II    

Identified Industrial Locations

Enclosure-III

Identified Industrial Locations

Annexure - II

THRUST INDUSTRIES

No. 1(10)/2012-SPS

Government of India

Ministry of Commerce & Industry

Department of Industrial Policy & Promotion 

Udyog Bhawan, New Delhi

Dated 03.10.2013.

Subject: - Extension of Special Package of Industrial Incentives for the State of Jammu & Kashmir,

              as J&K Package-II.  

This O.M is issued in supersession of the O.M of even number dated 11-06-2013.  

2.         The Special Package of Industrial Incentives for the state of Jammu & Kashmir was announced by the Government of India, Department of Industrial Policy and Promotion on 14-06-2002 for a period of ten years upto 14-06-2012.The package included Central Capital Investment Subsidy Scheme, 2002, Central Interest Subsidy Scheme, 2002 and Central Comprehensive Insurance Subsidy Scheme, 2002. An Impact Evaluation Study was conducted after expiry of the package and its findings discussed with the stake holders. In order to provide continuity and to maintain the enabling environment for ongoing industrial development of the state of Jammu & Kashmir, it has been decided to extend the incentives under the special package for a further period of five years.

 3.         Accordingly the J&K package-II is extended to the State of Jammu & Kashmir for a further period of five years from 15-06-2012 to 14-06-2017 which includes the following:-

3. 1       Central Capital Investment Subsidy Scheme: All new industrial units and existing industrial units on their substantial expansion would be eligible for Capital Investment Subsidy @ 15% of the investment of Plant & Machinery, subject to a ceiling of Rs. 30 lakhs. Micro, Small and Medium enterprises would be eligible for Capital Investment Subsidy of 30% of the investment of plant & machinery, subject to ceiling of Rs. 3.00 crore and Rs. 1.50 crore for manufacturing and service sector respectively.  

3.2        Central Interest Subsidy Scheme: An interest subsidy of 3% on the average of daily working capital loan would be provided to all new industrial units for a period of five years from the date of commencement of commercial production /operation.  

3.3        Central Comprehensive Insurance Subsidy Scheme: An Insurance subsidy on premium paid for insurance of fixed assets of the unit to the extent of 100% would be admissible during the extended package to all new units and to the existing units on substantial expansion for a period of five years from the date of commencement of commercial production/operation. 

4.         The subsidy would be available to the industries in notified areas as per Annexure-I and also to specified Thrust Industries outside such notified areas as per Annexure-II  

4.1        However an industrial unit in Textile sector under Thrust Industries would have a choice to apply for subsidy either under “Technology Upgradation Fund Scheme” (TUFS) of Ministry of Textile or under the Special Package administered by DIPP.

 5.    Definitions:-  

5.1  ‘New Industrial Unit’ means an industrial unit which commences commercial production/operation on or after 15th June, 2012.

 5.2  ‘Existing Industrial Unit’ means an industrial unit which has commenced operations before 15th June, 2012.

 5.3 ‘Substantial expansion’ means increase by not less than 25% in the value of fixed capital investment of an industrial unit for the purpose of expansion of capacity.

 5.4 ‘Fixed Capital Investment’ means investment in plant and machinery for the purpose of the scheme.

 5.5 ‘Micro, Small and Medium enterprises’ means enterprises as classified under sub section (1) of section 7 of the Micro, Small and Medium Enterprises Act, 2006 as amended from time to time.  

5.6 ‘Plant & Machinery’:- In calculating the value of plant & machinery, the cost of industrial plant and machinery at site will be taken into account. Further explanatory note is at Annexure-III.

 6. The approval of claim of subsidy will be as follows :-

 6.1 The industrial units to file claim of subsidy as per prescribed procedure at District Industry Centre concerned within one year from the date of commencement of commercial production.  

6.2 A State Level Committee headed by Secretary, Industry will approve claims for subsidy upto Rs. 1.50 crore. The composition of the State Level Committee is at Annexure IV.

 6.3 For claims more than Rs. 1.50 crore, the SLC will recommend the proposal for consideration of the Empowered Committee headed by Secretary, Department of Industrial Policy & Promotion. The composition of Empowered Committee is at Annexure-V.

 7. Jammu & Kashmir Development Finance Corporation (JKDFC) will continue to act as the nodal agency for disbursal of subsidy under Special Package Scheme for the state of Jammu & Kashmir. JKDFC shall furnish the utilization Certificate to the Ministry of Commerce & Industry, Department of Industrial Policy & Promotion against the funds released for disbursement of subsidy to the eligible units.

 8. Negative List: Following industries will not be eligible for benefit under the Central Capital Investment Subsidy Scheme, 2012 :-

 I. Cigarettes / cigars of tobacco, manufactured tobacco and substitutes, distillation / brewing of alcoholic drinks and manufacture of branded soft drinks and its concentrates.

 II. Weapon or ammunition.

 III. Pan Masala as covered under Chapter 21 of the First Schedule to the Central Excise Tariff Act, 1985 (5 of 1986)

 IV. Plastic carry bags of less than 20 microns as specified by Ministry of Environment & Forest Notification No. S.O. 705E dated 02-09-1999 and S.O. 698E dated 17-06-2003.

 9. A single unit cannot avail subsidy both from Central as well as State Government for the same purpose.

 10. Administrative cost upto 2% of the outlay would be admissible under the package for web enabled online claim submission and improved monitoring of the scheme.

11. Eligibility Period:-

The subsidy will be available during the duration of the scheme to such units which have pre-registered and commenced commercial production /operation prior to 14-06-2017. The unit should file its claim as per prescribed procedure at District Industry Centre concerned within one year from the date of commencement of commercial production /operation.

12. Procedure for claiming Capital Investment Subsidy:

i)          Industrial units eligible for subsidy under the scheme will get themselves registered with the District Industry Centre concerned  prior to the date of commencement of commercial production /operation for new industrial unit or before undertaking substantial expansion for existing units.

ii)         In case of bank financed units the bank shall certify the value of plant & machinery for the projects as per scheme guidelines.

iii)         In case of self financed units the project would be appraised by JKDFC after registration by the unit. JKDFC would also certify the value of plant & machinery as per scheme guidelines.

iv)        Unit should submit their claim within one year from the date of commencement of commercial production /operation. The industrial units registered before 15-06-2012 under the erstwhile scheme of subsidies and have filed the claims within one year of the date of commencement of commercial production / operation would be eligible for subsidies under erstwhile scheme. Units which have registered after 15-06-2012 would be covered under the present scheme. However, if such a unit has registered with DIC (District Industry Centre) due to non-existing of the package during the intervening period or not submitted claim within one year of the date of commencement of commercial production /operation the unit can do so not later than 31^st December, 2013.

13. Expenditure on second hand plant and machinery, plant & machinery purchased prior to date of registration of the unit under the scheme and plant and machinery where cash payment has been made for procurement would not be eligible for consideration of subsidy.

14. No owner of an industrial unit receiving a part or the whole of the grant or subsidy will be allowed to change the location of the whole or any part of the industrial unit or effect any substantial contraction or disposal of a substantial part of its total fixed capital investment within a period of five years after its going into production / operation without taking prior approval of the Ministry of Commerce & Industry, Department of Industrial Policy & Promotion , State Government and Financial Institution concerned.  

15. After receiving the grant or subsidy, each industrial unit shall submit Annual Progress Report to the State Government with a copy to Jammu and Kashmir Development Finance Corporation (JKDFC) about its working for a period of five years after going into production/operation.  

16. Government reserves the right to modify any part of the policy in public interest.

 17. Detailed notifications of all the three components of the package of incentives will be notified in Gazette of India separately.

 sd/-

(Shubhra Singh)

Joint Secretary to the Govt. of India

ANNEXURE-I

List of Existing Industrial Estates. 

Kashmir Division 

                                   New Industrial Estates (Under Development) in Kashmir Division. 

List of Industrial Estates 

Jammu Division 

 New Industrial Estates (Under Development) in Jammu Division 

ANNEXURE –II

 Thrust Industries included under J&K Industrial Policy

ANNEXURE-III 

A.       Components to be included for computing the value of Plant & Machinery:

 i.     Cost of Industrial Plant & Machinery including taxes and duties i.e. cost of mother production equipment used for carrying out manufacturing activities.

ii.       Cost of Productive equipment such as tools, jigs, dyes and moulds, insurance premium etc including taxes and duties.

iii.       Electrical components necessary for plant operation on the plant side from where meter is installed up to the point where finished goods is to be produced/dispatched (i.e. H.T. Motors, L.T. Motors, Switch Boards, Panels, Capacitors, Relay, Circuit Breakers, Panel Boards, Switchgears).

iv.      Freight charges paid for bringing Plant & Machinery and equipment from the suppliers premises to the location of the unit.

v.        Transit Insurance premium paid.

 B.       Components which will not be considered for computing the value of Plant and Machinery:

 i.       Loading and unloading charges

ii.       Sheds/buildings for Plant & Machinery.

iii.      Miscellaneous fixed assets such as DG sets, Excavation / Mining equipments, Handling equipments, electrical components other than those mentioned at A (iii) above.

iv.         Working Capital including Raw Material and other consumable stores.

v.         Commissioning cost.

vi.         Captive Power Plants

vii.        Storage equipments

viii.       Weigh bridge, Laboratory testing equipment

ix.         Erection and installation charges

 PLANT & MACHINERY FOR A TYPICAL CEMENT PLANT

 A.      Limestone crushing section

1.      Limestone crusher

2.      All crusher auxiliaries like feeder below limestone hopper, belt conveyor, dedusting equipments like cyclone & bag filters, screen etc.

3.      Limestone stacker & Reclaimer with belt conveyor, Additive(s) crusher & belt conveyor (as required) feeding to Raw Mill Hoppers

B.       Raw Material grinding section

 1.      Raw mill (Ball Mill/VRM/Roller Press & Ball Mill)

2.       All raw mill auxiliaries like weigh feeder below hopper, separator, fans, bucket elevator, rotary air lock, air slides, magnetic separator, metal detector, FK Pump, Fluxo Pump, dedusting equipments like cyclone, bag filters, Bag house/ ESP (common for kiln & mill) with fan etc.

C.        Raw meal extraction/kiln feed section  

1.         All slide with blowers before & after raw meal silo, solid flow meter.

2.         Kiln feed bucket elevator/airlift

 D.         Pyro processing section  

1.      Rotary kiln with preheater cyclones & calciner.

2.      All auxiliary equipments like preheater fan, shell cooling fans, blowers, down comer duct and other ducts for carrying    hot gases, fresh air dampers etc.

3.      Burner for Kiln & Calciner, Gas analysers, Temperature & pressure measuring equipment etc.

4.      Clinker Cooler.

5.      All cooler auxiliaries equipments like cooling fans, ESP &ESP fan, clinker crusher etc.

6.      Clinker conveying equipment like Deep pan conveyor (DPC)

7.      Coal crusher with all auxiliaries like bag filters, belt conveyor etc.

8.      Staker & Reclaimer for Coal including belt conveyor feeding to coal hopper

9.     Fuel Grinding Mill (Ball Mill/ VRM) for Coal/petcoke/lignite/alternate fuels

10.      All coal mill/Fuel grinding mill auxiliaries including weigh feeder below raw coal hopper, separator, bucket elevator, rotary air lock, air slides, bag house, bag house fan booster fan, belt conveyor & screw conveyor, inertisation system etc. This also includes system for other fuel alternate fuel.

 E.       Cement grinding section

 1. Cement mill (Ball Mill/VRM/Roller Press & Ball Mill)

2. Cement Mill auxiliaries like weigh feeder below hopper, separator, bucket elevator, rotary air lock, air slides, FK Pump, Fluxo Pump, solid flow meter, bag house, Bag house fan, conveyors, Material extraction gates below Silo/ stockpile, Gypsum crusher, Pneumatic Handling system for Flyash/ Mechanical handling system for slag etc.

 F.        Packing Section

 1.       Packer & its auxiliaries such as belt conveyor, belt diverter, bucket elevator, screen etc.

2.       Truck loader & Wagon loader (if applicable), Bulk Loading & Packaging arrangement.

 G.        Others

1.        Blowers, Pumps, compressors etc.

2.        Belt Coveyors (for all sections)

3.        De-dusting bag filters (across transfer points) with fans.

4.       Samplers

5.       Hot Air Generator if any

6.       Electrical and Control & instrumentation equipment alongwith software for plant operation (plant PLC) including HT &  LT Motors, Dc Motors, Thyristor Panels, SPRS System, Capacitors etc.

H.       Exclusions:-

 1.     Workshop equipment

2.      Laboratory equipments

3.      Equipment for power distribution other than those at G (6) above

4.      Equipment for water supply

5.       Fire Fighting Equipment

6.       Mining machinery

7.       D.G. Sets for Plant/captive power plant

8.       Weigh Bridge, Railway Siding, Locomotives, Truck Trippers etc.

9.       Plant Building (like crusher building, mill house etc.), Auxiliary building (like MCC rooms, compressor house etc) and Non Plant Buildings (like Store, Administrative building, canteen etc.)

10.     Storage Building like Silo, Hoppers, Stockpiles.  

PLANT & MACHINERY FOR A STEEL AND A ROLLING MILL (SECTION WISE)

 A.         MELTING SECTION

 1.      Induction Furnaces & Electric Arc Furnaces with all electrical installations, gadgets, control panels, meters, cables, busbars, emergency water system, main water cooling system etc

2.       Casting Section: Ladles, oil burners, gas purging system, ladle refining furnace, if any, vacuum degassing units, if any, continuous casting unit with motors, pumps, withdrawal system, DM water system, water treatment plant, conveyor belts, etc.  

3.       Auxiliary Equipments & Cranes.  

4.       Workshop Machines  

5.       Electrical Equipments (HT Motor, LT motor, Switch Board, Capacitors, Relay Circuit Breakers, Panel Boards, Switch Gears).  

B.         ROLLING MILLS  

1.       RHF (Re-heating Furnace)- all items including Sheets, Refractory, Pusher Motors, Burners, Chimney, recuperator, APCD etc. as defined in Plant & Machinery.

2.       Roughing Stand including motors, repeaters (if any), mechanization (if any), bearings, cooling systems etc. which are defined as Plant & Machinery.

3.      Intermediate stands (as above)

4.      Finishing stands (as above)

5.      Quenching system (for TMT)

6.      Shears, Pinch Roll

7.      Cooling Bed Systems  

8.      Crane

9.      Workshop Machines (Lathe, Shapere, Drils, Grinders, Milling Machine, Templates, measuring equipments like screw gauge, vernier etc.)

10.      Auxiliary equipments (included as Plant Machinery)  

11.     Electrical equipments (Current transformers, circuit breakers, panel boards, motors, reactors, Relay panels, switch gears, starters, digital meters, etc.)

12.     Other material handling equipments (within the Rolling Mills furnace area for hot metal transfer)  -(Conveyor which lead to mechanization/automation, chain pulley blocks etc.)  

13.     Water System equipments and towers- (Water settle tanks for removal of metallic contamination, oil, grease, etc., DM water plant, if any. Water pumping units, water cooling power/ system etc.  

14.        Coal Pulverizer system including Pipeline for delivery  

Definition of Plant & Machinery for Eco-Tourism.  

(a)      In the case of Houseboats, the entire houseboat project along with its fitting and furnishing should be treated as plant and machinery.  

(b)        In the case of hotel, resorts and guest houses (Laddakh only), the investment in plant and machinery is negligible in comparison to the cost of land and building. Therefore, building should also be included as a part of plant and machinery. Besides this, the items given at (c) below may be taken into account for calculating the value of plant and machinery  

(c)        An illustrative list of plant and machinery/equipment is given below:  

1. Filtration plant for swimming pool.

2. Water purification plant.

3. Hot water boiler and room heating equipment (fixed)

4. Water softening plant

5. Fume extraction and ventilation plant.

6. Air conditioning plant.

7. Cold Storage equipment.

8. Laundry equipment.

9. Cooler and refrigeration equipment.

10. Bakery equipment

11. Sewage disposal plant

12. Electrical installations

13. Tents for camping

14. Kitchen equipment, cooking range, dish washer, working table.

15. Fire- fighting equipment (fixed)

16. Telephone equipment/exchange.

17. Lifts

18. Safe deposit lockers

19. Tube wells along with pumping sets and lines within the campus

20. Goods carrier exclusively needed for the hotel.

21. Projectors and other equipment’s for conference hall (fixed).

22. Lighting equipment.

23. Adventure and water sports equipment’s.  

d) For adventure & leisure sports, amusement/entertainment parks, cable car, ropeways and spa, the entire cost of items and components (excluding land) essential for commissioning the project. Definition of admissible items under adventure & leisure sports etc. exclude additionalities such as conference room, auditorium etc.

ANNEXURE –IV 

Composition of State Level Committee 

 1.         Secretary, Department of Industry & Commerce, J&K                   Chairman

 2.         Director, Industries and Commerce, Kashmir                                Member Secretary*  

3.         Director, Industries and Commerce, Jammu                                  Member Secretary*

4          Director, Accounts and Treasuries                                              Member  

5.         MD, Jammu & Kashmir Development Finance Corporation                 Member 

6.         Financial Advisor/CAO, I&C Department                                       Member

 7.         Nominee of DIPP                                                                     Member

8.         President, Federation Chamber of Industries, Kashmir                    Member

9.         Chairman, Federation of Industries, Jammu,                                 Member

  *As applicable

                                                          ANNEXURE –V

                                         Composition of Empowered Committee

1.          Secretary, DIPP                                                                Chairman

 2.         Secretary, D/o Expenditure                                                  Member

 3.         Representative of Planning Commission                                   Member

 4.         Secretary of Ministry administratively concerned with               Member

   the industrial activity of the claimant unit                                                   

5.          Addl. Secretary & Financial Advisor, DIPP                                Member

 6.         Chief Secretary/Commissioner (Industry), J&K                         Member.  

7.          MD, Jammu & Kashmir Development                                        Member

   Finance Corporation

 8.         Joint Secretary DIPP                                                          Member Secretary

9.         State representative of concerned                                             

   Financial Institution                                                           Member

10.        Chief Controller of Accounts, DIPP                                        Member