States are required to sign an MOU
with Central Government before funds are released.
Release of Funds
The central share of funds shall be released
to the States/UTs as per details given below :
(i) Ist Instalment: 25% of central share of
sanctioned amount on submission of estimates and drawings after
clearance by the IMC;
(ii) IInd Instalment: Upto 50% of central share
of sanctioned amount based on the documentary evidence/photographs indicating
progress of work/sample survey by DGE&T); and,
(iii) IIIrd Instalment: 25% of central share of
sanctioned amount based on actual expenditure.
(b) For procurement of Equipment
(i)Ist Instalment:10% on submission of the equipment
list after clearance by the IMC;
(ii) IInd Instalment: 40% on documentary
evidence of placement of supply order; and,
(iii) IIIrd Instalment: 50% on proof of supply &
installation / commissioning of the equipment.
IMC comprises of upto 11 members where one member will be nominated by
Central Government and not more than five members by States/UTs
and not more than five members including the Chairman by the Industry
Associations namely CII/FICCI/ASSOCHAM.
& Responsibilities of IMCs
IMC will have the following roles and responsibilities:
of revenue through various means such as projects and financial contribution
from industry including donation of equipment and using of such funds/
equipment as decided by them;
of new emerging training areas;
of Contract faculty/Guest faculty;
on the job training to the trainees;
and certification; and,
placement of passing out trainees.