1. Consider the following statements regarding the Additional Tier-1 bonds (AT-1 bonds).
1. These bonds offer investors a higher return because of the higher risk associated with them, including the possibility of being written down when a bank’s equity base is under threat.
2. AT-1 bonds are a type of unsecured, perpetual bonds that banks issue to shore up their core capital base to meet the Basel-III norms.
3. AT-1 bonds carry a face value of ₹20 lakh per bond and there are two routes through which retail folk have acquired these bonds.
Which of the statement(s) given above is/are correct?
(a) 2 and 3 only
(b) 1 and 2 only
(c) 1 and 3 only
(d) 1, 2 and 3
Additional Tier-1 bonds (AT1 bonds)
The government and the RBI seem to have worked overtime just before the weekend to put together a bailout package for YES Bank. With the SBI taking up an equity stake in the bank and a lookout on for other white knights, depositors in the troubled bank can probably look forward to an amicable resolution.
But one segment of investors which has been left high and dry is the holders of the bank’s AT1 bonds. Social media feeds are now full of folks who have invested substantial sums in these bonds, only to receive a rude shock from the bailout package, which proposes to completely write off the dues on these bonds
What is it?
AT-1, short for Additional Tier-1 bonds, are a type of unsecured, perpetual bonds that banks issue to shore up their core capital base to meet the Basel-III norms. After a string of banks turned turtle in the global financial crisis, central banks got together and decided to formulate new rules (called the Basel-III norms) that would make them maintain stronger balance sheets.
In India, one of the key new rules brought in was that banks must maintain capital at a minimum ratio of 11.5 per cent of their risk-weighted loans. Of this, 9.5 per cent needs to be in Tier-1 capital and 2 per cent in Tier-2. Tier-1 capital refers to equity and other forms of permanent capital that stays with the bank, as deposits and loans flow in and out.
Why is it important?
AT-1 bonds have several unusual features lurking in their fine print, which make them very different from plain-vanilla bonds. One, these bonds are perpetual and carry no maturity date. Instead, they carry call options that allow banks to redeem them after five or 10 years. But banks are not obliged to use this call option and can opt to pay only interest on these bonds for eternity. Two, banks issuing AT-1 bonds can skip interest payouts for a particular year or even reduce the bonds’ face value without getting into hot water with their investors, provided their capital ratios fall below certain threshold levels. These thresholds are specified in their offer terms.
Three, if the RBI feels that a bank is tottering on the brink and needs a rescue, it can simply ask the bank to cancel its outstanding AT-1 bonds without consulting its investors. This is what has happened to YES Bank’s AT-1 bond-holders who are said to have invested ₹10,800 crore. A furious debate is now on, on whether AT1 bond holders should be asked to take this haircut when even the YES Bank shareholders are better off
Why should I care?
AT-1 bonds are complex hybrid instruments, ideally meant for institutions and smart investors who can decipher their terms and assess if their higher rates compensate for their higher risks. But in India, these bonds seem to have been sold to a fair number of retail investors as fixed deposit or NCD substitutes.
AT-1 bonds carry a face value of ₹10 lakh per bond. There are two routes through which retail folk have acquired these bonds — initial private placement offers of AT-1 bonds by banks seeking to raise money; or secondary market buys of already-traded AT-1 bonds based on recommendations from brokers.
So, if you are approached by a relationship manager or broker to buy a ‘bank bond’ offering a rather mouth-watering yield, check if you’re being sold AT1 bonds.
Whenever a bond offers extra yield, look for the wolf in sheep’s clothing.
2. Consider the following statements with respect to the National Health Authority (NHA).
1. It is the apex body responsible for implementing India’s flagship public health insurance/assurance scheme called Ayushman Bharat Yojana.
2. National Health Agency was reconstituted as the National Health Authority in January 2019.
3. It is headed by a Minister incharge of Health Ministry
4. NHA has penal powers and can issue orders to its state counterparts rather than mere advisories and it can also act against errant hospitals.
Which of the following statements is/are correct?
(a) 1, 2 and 3 only
(b) 1, 3 and 4 only
(c) 1 and 3 only
(d) All of the above
National Health Authority (NHA)
National Health Authority (NHA) is the apex body responsible for implementing India’s flagship public health insurance/assurance scheme called “Ayushman Bharat Pradhan Mantri Jan Arogya Yojana.”
National Health Authority is the successor of the National Health Agency, which was functioning as a registered society since 23rd May, 2018. Pursuant to Cabinet decision for full functional autonomy, National Health Agency was reconstituted as the National Health Authority on 2nd January 2019, under Gazette Notification Registered No. DL – (N) 04/0007/2003-18.
NHA has been set-up to implement PM-JAY, as it is popularly known, at the national level. An attached office of the Ministry of Health and Family Welfare with full functional autonomy, NHA is governed by a Governing Board chaired by the Union Minister for Health and Family Welfare. It is headed by a Chief Executive Officer (CEO), an officer of the rank of Secretary to the Government of India, who manages its affairs. The CEO is the Ex-Office Member Secretary of the Governing Board.
To implement the scheme at the State level, State Health Agencies (SHAs) in the form of a society/trust have been set up by respective States. SHAs have full operational autonomy over the implementation of the scheme in the State including extending the coverage to non SECC beneficiaries.
Functions of NHA
Formulation of various operational guidelines related to PM-JAY, model documents and contracts to ensure standardization and interoperability.
Determine the central ceiling for premium (or maximum central contribution for trusts) per family per year to be provided to the States/UTs and review it from time to time, based on field evidence and actuarial analysis.
Develop and enforce compliance with standards for treatment protocols, quality protocols, minimum documentation protocols, data sharing protocols, data privacy and security protocols, fraud prevention and control including penal provisions etc.
Develop mechanisms for strategic purchasing of health care services through PM-JAY, so as to get best return on Government’s investment. Create conducive conditions for strategic purchasing by preparing a list of packages and their rates and updating them from time to time using a transparent, predictable and evidence-based process.
Set up effective and efficient mechanisms to pay to the health care providers.
Set up systems and processes for convergence of PM-JAY with other health insurance/assurance schemes. This will include schemes being implemented by both State and Central Governments. National Health Authority will also develop a pathway to converge PM-JAY with schemes targeting workers from both, the formal and informal sectors.
Build a state of the art health information technology ecosystem with requisite foundational components on which PM-JAY and other health systems can be hosted/linked; Information Technology standards will be developed in consultation with Ministry of Electronic and Information Technology (MeitY).
Explore options including ways to link PM-JAY with the larger health care system, especially primary care, in consultation with the Ministry of Health and Family Welfare, Government of India.
Work closely with Insurance Regulatory and Development Authority on development and implementation of Health Insurance Regulations targeting insurance companies, Third Party Administrators, hospitals and other stakeholders.
Effective implementation of PM-JAY across the country and its regular monitoring including taking course corrections actions, as and when required.
Coordination with various State Governments on regular basis for implementation of PM-JAY.
Capacity building of State Health Agencies and other stakeholders continuously.
Carrying out awareness activities for informing beneficiaries and other stakeholders about the scheme.
Prevention, detection and control of fraudulent activities and abuse.
Grievance redressal for all the stakeholders at various levels.
Set up an efficient monitoring system for the scheme.
Stimulate cross learning, sharing of best practices amongst States and documentation of these practices.
Ensure interoperability, standardization and convergence amongst schemes of Central Ministries.
Conduct and facilitate policy relevant research and evaluation studies including knowledge sharing and information dissemination at the national and international level.
Develop strategic partnerships and collaboration with Central and State Governments, other public and private institutions including not-for-profit institutions, banks, insurance companies, academic institutions such as universities, missions, think tanks, and other national and international bodies of repute in areas relevant to the objectives of PM-JAY.
Generate evidence for the policy makers from schemes’ data and other research/evaluations so as to facilitate evidence-based decision making and policy formulation by the Government.
Act as apex body for State Health Agencies that have been set up to implement PM-JAY.
Take any decision related to the implementation of the scheme, recruitment rules and hiring of staff, disbursement of grant-in-aid to the States and issue relevant directions from time to time, as required.
And all other activities as assigned by the Government of India from time to time.
3. Consider the following statements regarding the Concept of Constitutionalism.
1. The concept of constitutionalism is that of a polity governed by or under a constitution that ordains essentially limited government and rule of law as opposed to arbitrary authoritarian or totalitarian rule.
2. In Indian context, Preamble may be a point to check the presence of constitutionalism.
3. Various instruments like Preamble Judicial Review, Rule of law, Separation of power, Checks and balances and so on promote the spirit of constitutionalism.
Which of the following statements is/are correct?
(a) 2 and 3 only
(b) 1 and 2 only
(c) 1 and 3 only
(d) 1, 2 and 3
The concept of constitutionalism is that of a polity governed by or under a constitution that ordains essentially limited government and rule of law as opposed to arbitrary authoritarian or totalitarian rule. Constitutional government, therefore, should necessarily be democratic government.
In other words, Constitutionalism is a political philosophy in which the functions of government of a state must be in accordance with the provisions of the constitution meaning thereby the actions of government must reflect constitutionality.
As the constitutionalism is a political spirit or philosophy, so it is not necessary that the states that have a constitution must be embodied with the concept of constitutionalism.
According to Douglas Greenberg, Constitutionalism is a commitment to limitations on ordinary political power, it revolves around a political process, one that overlaps with democracy in seeking to balance state power and individual and collective rights, it draws on particular cultural and historical contexts from which it emanates and it resides in public consciousness.
Now to identify that whether constitutionalism is present in India or not. It can be analyzed with the help of various provisions of constitution that are:-
• Judicial Review
• Rule of law
• Separation of power
• Checks and balances and so on.
There is no exhaustive list of features by which the validity or existence of constitutionalism can be tested; but the every feature which limits the government and proves helpful to establish a position of sovereignty under fundamental principles of constitutional jurisprudence may be a considerable point for constitutionalism.
In Indian context, Preamble may be a point to check the presence of constitutionalism. Our Constitution enacted on 26th November,1949, since then, a question always a matter of great concern that whether preamble is a part of Indian constitution or not. However, in 1960, In Re Beru Beri case, it was held that preamble is not a part of constitution but after a long time, In case of Keshavanand Bharti v State of Kerala, AIR 1973 SC 1461, 13 judges largest bench of Indian constitutional history rejected previous contentions and declared that “Preamble is a part of Indian Constitution”.
Preamble explains the objectives of constitution in two ways, one about the composition of bodies of governance and other about the objectives sought to be achieved in independent India. Objectives explained in preamble as follows:-
• To constitute India into Sovereign, Socialist, Secular, Democratic Republic (words Socialist and Secular inserted by 42nd constitutional Amendment, 1976) other provisions of preamble that are;-
• Justice – Social, Economic, and Political;
• Liberty – of thought, expression, belief, faith and worship;
• Equality of status and opportunity;
• Fraternity assuring the dignity of the individual and the unity and integrity of the nation (word unity inserted by 42nd constitutional Amendment, 1976) may be invoked to determine the ambit of Fundamental rights and Directive principles of state policy.
According to Justice Subbarao, Preamble is the soul of the constitution, without which a body in the form of state cannot be survived. The objectives of constitution ensure the dignified conditions for the people of India and provide them all rights and liberties within ambit of fundamental spirit of constitutionalism embodied in entire body of the constitution. E.g. Dr. Radhakrishnan, former President of India, has explained secularism in this country, as follows:-
When India is said to be a secular state, it does not mean that we reject the reality of an unseen spirit or the relevance of religion to life or that we exalt irreligion. It does not mean that secularism itself becomes a positive religion or that the state assumes divine prerogatives…..we hold that not one religion should be given preferential status…This view of religious impartiality, or comprehension and forbearance, has a prophetic role to play within the National and International life.
In other words, Secularism, which reflects no state religion, means every citizen has a right to profess religion of their own choice, which promotes automatically liberty of faith and worship.
In this way, It can be surmised that preamble hold the spirit of constitutionalism. Second feature is Judicial Review; however, this doctrine is not clearly stated in Indian constitution but its reflection is somewhere found in Article 13(2), Actually, this doctrine was firstly introduced in 1803 by Justice Marshall in Marbury v Madison(3) case, In USA where he clearly said that ‘It is the duty of judge to annul the law made by the legislature which violated the constitution or contrary to it.
The similar spirit found in Article 13(2) of Indian Constitution that the laws “which are inconsistent to part III of constitution shall be declared null and void”, but it is not clearly defined that if any contrary law made, then who will check its validity, then an answer comes into light in reference to Justice Marshall that Judiciary can check such contrary acts of legislature and also can review the laws made by legislature.
And also a concept of “Higher law” emerged from this doctrine, because a judge has to follow the mandates or directions of Higher law while checking the consistency of provision. In written constitution, Higher law depicts constitution as Supreme but where there is no written constitution; there are some principles which can be regarded as Supreme or Higher law principle. In Gopalan V State of Madras (1950) SCR 88(100) has upheld that it is difficult to restrict the sovereign legislative power by judicial interference except so far as the express provision of written constitution. It is only the written provisions of constitution which may restrain legislative power, but where there is no written constitution, then, who restrain legislative power, and then its answer is judiciary by following various principles, precedents, customs, usages, and different statutes can check the consistency.
It clearly signifies that in absence of power of judicial review in hands of judiciary, judiciary is only a puppet of legislators. Justice Frankfurter (4)(USA)…. said that judicial review, itself a limitation on popular government, is a fundamental part of our constitutional system; means if there is no power of judicial review then the constitution merely becomes a draft for the code of conduct for government as well as citizens, It also signifies as a “Law without Sanction”.
However, this type of situation has been prevalent in India, till 2007, in different cases, such as Shankari Prasad case, Sajjan Singh case, Golak Nath case, Keshavanand Bharti case, N.Ramchandra case, traced a picture of conflict between legislature and judiciary, no clear cut demarcation of powers under which organs of government can overview the validity of their actions for upholding the true spirit of constitutionalism in a political entity could be realized. But the Raja Ram Pal case and I.R.Coelho v State of Tamil Nadu case 2007 have reshaped the whole demarcation and establish superiority of principles such as Basic Structure Theory enhancing the spirit of constitutionalism.
In this way, by exercising Appellate and Advisory jurisdiction, judiciary can secure uniformity in the interpretation and application of the constitution as amongst the states.
Third provision is “Rule of Law”; on its basis spirit of constitutionalism can be present in a state. This doctrine is given by Dicey (a well known constitutionalist of England) in 1865 wrote a book titled “An Introduction to the law of the constitution” in which the term “Rule of Law” was given a comprehensive amplitude. In reality, it is a doctrine of England where there is no written constitution, so it is placed as a higher law there to check the validity of any law made by legislature. This doctrine shows that whatever law is present in our state, must be ruled over everyone, meaning thereby the law is supreme in all respect and in every sphere. It clarifies that “No one above the law”. Now a question arises, what the law is? The answer of this question resides in two principles that are-
• Due Process
• Procedure established by law.
Due Process is a doctrine of USA, and its ambit is not defined comprehensively, but its sphere is to be explained by judges as per the facts and circumstances of the case. It represents judicial supremacy and also there is a danger for judicial autocracy because the court if not self restrained may go beyond the limits set by the constitution. But in India, there is a “Procedure established by law” doctrine prevails, adopted from Constitution of Japan and clearly enshrined in Article 21 of Indian Constitution. It shows parliamentary sovereignty because in India, law is made by the legislature, it restricts the judicial supremacy and only infers right to do literal interpretation not statutory construction of laws. There are also some other elements embedded in Rule of law, such as
• Absence of arbitrary power on the part of government, which is undoubtedly present in form of judicial review in which judiciary always look after the actions of other organs of government.
• Equality of all persons in the eye of law, which can be justified on the basis of provisions of Article 14-18 with some reasonable restrictions.
• Rules of constitutional law are the results of the ordinary law of the land means the laws made by legislature must not be contrary to the provisions of constitution, otherwise it will be declared as null and void.
In England, Rule of Law flourished sovereignty of legislature, being unwritten constitution there is no higher law to circumscribe the plenary powers of the sovereign legislature but in India, there is written constitution and the concept of judicial review also present, so the doctrine of Rule of Law cannot be assigned a paramount place. But to promote the spirit of constitutionalism, the shadow of this doctrine reflects in various provisions of Indian Constitution in the form of fundamental principles of natural justice.
Next provision is Separation of Power among organs of government. In India, under Article 245, 246 and Schedule VII there is a clear demarcation of legislative power among union and state government, under Articles 256-263 administrative relations are also clearly defined, and under Article 254 if there is any inconsistency between centre and state laws, then central law prevails, under Article 264-291 fiscal relation between centre and state is given, meaning thereby there is a rare chance of clash between union and states, so that public policies can be properly implemented as per the requirements of the people. As the powers of centre and state clearly divided, so there is no space to use arbitrary powers over any subject. Generally, subjects which have national importance vests in Union list and those have regional importance vests in State list and for the establishment of unity and integrity in the nation, Concurrent list is made in which for universalization of laws, central government made law but according to the requirements of a particular region, state legislature may make any amendment in the provision.
In this way, this feature also promotes the spirit of constitutionalism.
And other provisions as Fundamental rights defined in Articles 12-35, provide some rights to the citizens and to every person for whose infringement people may approach towards Courts of Justice under Articles 32 and 226 respectively of Indian Constitution, which shows that citizens also have some rights to protect themselves from the arbitrariness of government. And Directive Principles of state policy under Articles 36-51 connotes that these principles should be in consideration of government while framing of its policies, because its trend helps to provide or flourish social, economic equality among people. As the aim of government cannot touch their destination without the contribution of public at large. That’s why the Fundamental duties of citizens also explained in Article-51A which should be obeyed by every citizen of nation.
In this way, these provisions shows the checks and balances among the actions of governmental organs and the public. The Emergency provisions under Articles 352, 356 and 360 also shows the spirit of constitutionalism by restraining the exclusive powers of state organs at the time of external aggression, armed rebellion, failure of constitutional machinery in particular state, financial crisis etc. It signifies the curtailment of powers of state functionaries in favour of public interest and all powers vests in union government to deal with such sort of situations. To uplift weaker sections of society, concept of reservation is also present in Indian constitution under Articles 330-342, in these provisions Doctrine of Appeasement is present by providing some reserved seats to lower society people in every functionary organ of government. Such as-under Articles 330 & 332, Reservation of seats for SC and ST in House of People and legislative assembly of states. With the help of this clause, the problems related to SC and ST comes in front of legislature and proves helpful to protect the interest of particular community.
The brief discussion of provision of constitution provides us a vision to see the process going on in the political system of country, in which we find that there are very detailed description of powers of organs of government so that they can exercise their powers within the boundaries of constitution i.e. Higher law in India, owing to which governmental organs become unable to entertain arbitrary powers and also these provisions provide a paramount place to laws whose main aim is to protect the interest of individuals in the country. In this way, In India constitutionalism is undoubtedly present but there is only one exception that the doctrine of Rule of Law does not prevail in India as in England (regarding parliamentary sovereignty). It exists in India in form of natural justice principles to govern administrative functions, since the rule of law and judicial review in a single system cannot be realized easily. It would create a conflict between parliament and constitution (The Guardian of constitution i.e. judiciary).Judges are to promote the value of constitutionalism emanating from a legal draft, drafted by constituent assembly constituted of representatives expressing their public opinion. Although, Secondary public opinion cannot overrule primary public opinion, but every provision has its own importance and if any provision is not explicitly present in a constitution but its reflection is found in some clauses, then it will be sufficient to promote the spirit of constitutionalism.
4. Consider the following statements regarding the National Electronic Fund Transfer (NEFT).
1. In 2015, RBI established NEFT, and it is maintained by Institute for Development and Research in Banking Technology (IDRBT).
2. There is no limit either minimum or maximum on the amount of funds that could be transferred using NEFT. However, maximum amount per transaction is limited to Rs.500, 000.
3. RBI has extended the availability of NEFT round-the-clock on all the seven days of the week 24×7 basis to facilitate beyond the banking hour fund transfer.
Which of the following statements is/are correct?
(a) 2 and 3 only
(b) 1 and 2 only
(c) 3 only
(d) 1 and 3
National Electronic Fund Transfer (NEFT)
RBI has extended the availability of National Electronic Funds Transfer (NEFT) round-the-clock on all the seven days of the week — 24×7 basis — to facilitate beyond the banking hour fund transfer.
The RBI joins an elite club of countries having payment systems which enable round the clock funds transfer and settlement of any value. So far, Australia, Hong Kong, Mexico, Sweden, Turkey, the UK, South Korea, Singapore, South Africa, and China have such payment system.
The initial electronic fund transfer system introduced in the late 1990s enabled an account holder of a bank to electronically transfer funds to another account holder with any other participating bank.
Later in 2005, RBI has launched National Electronic Fund Transfer (NEFT) Scheme with advanced and secure features for facilitating one-to-one funds transfer requirements of individuals / corporate.
Individuals, firms or corporate maintaining accounts with a bank branch can receive funds through the NEFT system.
It is, therefore, necessary for the beneficiary to have an account with the NEFT enabled destination bank branch in the country.
There is no limit – either minimum or maximum – on the amount of funds that could be transferred using NEFT. However, maximum amount per transaction is limited to Rs.50, 000/- for cash-based remittances within India and also for remittances to Nepal under the Indo-Nepal Remittance Facility Scheme.
Presently, NEFT operates in hourly batches – there are twelve settlements from 8 am to 7 pm on week days (Monday through Friday) and six settlements from 8 am to 1 pm on Saturdays.
Difference between NEFT and RTGS
Though both NEFT and RTGS are for fund transfer arrangements, both differ considerably in operation. NEFT is an electronic fund transfer system that operates on a Deferred Net Settlement (DNS) basis which settles transactions in batches. In DNS, the settlement takes place with all transactions received till the particular cut-off time. These transactions are netted (payable and receivables) in NEFT. This means that transactions are settled in batches under net.
Under RTGS the transactions are settled individually. RTGS transactions are processed continuously throughout the RTGS business hours.
The NEFT platform is primarily aimed for small value transactions. At one transaction the maximum value should be Rs 50000.
On the other hand, the RTGS is aimed for large value transactions. The minimum amount to be remitted through RTGS is Rs 2 lakh. There is no upper ceiling for RTGS transactions.
5. Consider the following statements regarding the Agricultural and Processed Food Products Export Development Authority (APEDA).
1. It was established by the Government of India under the Agricultural and Processed Food Products Export Development Authority Act, 1985.
2. It functions under the Ministry of Commerce and Industry and has its headquarters in Mumbai.
3. A Farmer Connect Portal has been set up by APEDA on its website for providing a platform for Farmer Producer Organisations (FPOs) and Farmer Producer Companies (FPCs) to interact with exporters.
Which of the following statements is/are correct?
(a) 2 and 3 only
(b) 1 and 2 only
(c) 1 and 3 only
(d) 2 only
The Agricultural and Processed Food Products Export Development Authority (APEDA)
APEDA was established by the Government of India under the Agricultural and Processed Food Products Export Development Authority Act, 1985. It functions under the Ministry of Commerce and Industry. The Authority has its headquarters in New Delhi.
APEDA is mandated with the responsibility of export promotion and development of the scheduled products viz. fruits, vegetables and their products; meat and meat products; poultry and poultry products; dairy products; confectionery, biscuits and bakery products; honey, jaggery and sugar products; cocoa and its products, chocolates of all kinds; alcoholic and non-alcoholic beverages; cereal and cereal products; groundnuts, peanuts and walnuts, pickles, papads and chutneys; guar gum; floriculture and floriculture products; herbal and medicinal plants.
APEDA has been entrusted with the responsibility to monitor import of sugar.
It looks after the development of industries relating to the scheduled products for export by way of providing financial assistance or otherwise for undertaking surveys and feasibility studies, participating through subsidy schemes.
Registration of persons as exporters of the scheduled products and fixing of standards and specifications for the scheduled products for the purpose of exports.
Carrying out inspection of meat and meat products in slaughterhouses, processing plants, storage premises and improving packaging of the scheduled products.
Composition of APEDA Authority
The APEDA Authority consists of the following members namely:
A Chairman appointed by the Central Government
The Agricultural Marketing Advisor to the Government of India, ex-official
Three members of Parliament of whom two are elected by the House of People and one by the Council of States
Eight members appointed by the Central Government representing respectively; the Ministries of the Central Govt.
• Agriculture and Rural Development
• Civil Supplies
• Civil Aviation
• Shipping and transport
Five members appointed by the Central Government by rotation in alphabetical order to represent the States and the Union Territories
Seven members appointed by the Central Govt. representing
o Indian Council of Agricultural Research
o National Horticultural Board
o National Agricultural Cooperative Marketing Federation
o Central Food Technological Research Institute
o Indian Institute of Packaging
o Spices Export Promotion Council and
o Cashew Export Promotion Council
Twelve members appointed by the Central Government representing
o Fruit and Vegetable Products Industries
o Meat, Poultry and Dairy Products Industries
o Other Scheduled Products Industries
o Packaging Industry
Two members appointed by the Central Government from amongst specialists and scientists in the fields of agriculture, economics and marketing of the scheduled products.