Processing Procedure

In order to compress the time lag in processing the VR applications, following procedure shall be adopted. (i) The proposal for financial assistance by a State PSU should be submitted by the PSU directly to the Department of Public Enterprises within one month from the target date with two copies to the Administrative Department who will send a copy to Adam Smith Institute. (ii) As a measure of single Agency scrutiny, an Empowered Committee is constituted in the Department of Public Enterprises consisting of Secretary, PE as Chairman, Additional Secretary Finance Department, Additional Secretary, Planning & Co-ordination Department, Resident Manager, Adam Smith Institute (ASI) and Additional Secretary of concerned Administrative Department as members. This Committee will scrutinize the proposals, obtain the clearance of the ASI, and accord sanction to the proposals within a period of one month from the date of receipt of the application from the concerned Public Enterprise