Amendment of rule 60A:- In rule 60A of the said rules,-
(i) for sub-rule (5), the following shall be substituted, namely:-
"(5): The amount of advance shall not exceed sixty percent of the prevailing market value of the produce pledged in favour of the Market committee, subject to a maximum of rupees two lakhs in each case."
(ii) for sub-rule(8), the following shall be substituted, namely:-
"(8): The period of advance shall not exceed one eighty days from the date of pledging of the produce."
(iii) for sub-rule (9), the following shall be substituted, namely:-
"(9): No interest shall be charged on the advance for a period of first ninety days from the date of disbursement of the advance under sub-rule(1), and thereafter interest shall be charged at the rate specified in the table below till the date of release or disposal of the produce under sub-rule (10) or (16)
Rate of Interest|
Up to Rs.25,000-00||
4 percent per annum|
Rs.25,000-00 and above but below Rs.50,000-00||
6 percent per annum|
Rs.50,000-00 and above but below Rs.1,00,000-00||
8 percent per annum|
Rs. 1,00,000-00 and above but below Rs.2,00,000-00||
10 percent per annum|
(iv) For sub-rule (19) the following shall be substituted:-
"The market committee may also accept warehouse receipts issued to a producer-seller by the Karnataka State Warehousing Corporation or Central Warehousing Corporation or Taluka Agricultural Produce Co-operative Marketing Societies (TAPCMS) or organizations like Malanadu Arecanut Marketing Co-operative Society Limited (MAMCOS), Central Arecanut and Cocoa Marketing and Processing Co-operative Society Limited (CAMPCO) or such other Co-operative Societies as notified by Director of Agricultural Marketing from time to timeand grant short term advance on the pledge of such receipt to an extent of sixty percent of the market value of the produce pledged subject to a maximum of rupees two lakhs in each case "
7. Amendment of rule 60C.- In rule 60c of the said rules,-
(i) in clause (9), after the words, brackets and figure "identified by it under clause (8)," the words, brackets and figures " and infrastructural facilities identified under clause (1) to (7)" shall be inserted.
(ii) in clause (9), for the TABLE and the Explanation the following shall be substituted, namely:-
Categories of market committee||
The maximum amount of estimate|
Market committee whose annual income in the preceding market year by way of market fee and licence fee is
(i) above Rs.5.00 crores.
(ii) above Rs.3.50 crore and upto
(iii) above Rs.2.50 crores and
upto Rs.3.50 crore.
(iv) above Rs.1.50 crores and
upto Rs.2.50 crore.
(v) above Rs.1.00 crores and upto
(vi) above Rs.50.00 lakhs and
upto Rs.1.00 crore.
(vii) above Rs.20.00 lakhs and
upto Rs.50.00 lakhs.
(viii) Rs.20.00 lakhs and below.
Rs.60 lakhs per annum.
Rs.50.00 lakhs per annum.
Rs.40.00 lakhs per annum.
Rs.30.00 lakhs per annum.
Rs.15.00 lakhs per annum.
Rs.10.00 lakhs per annum.
Rs.5.00 lakhs per annum.
Explanation: (1) A market committee shall spend thirty percent of the amount specified in the table above for the purpose of maintenance of roads developed by it.
(2) Estimated cost of each road work shall not be less than rupees one lakh and the work has to be undertaken by following tender process."
8. Amendment of rule 61.- In sub-rule (2) of rule 61 of the said rules, in sub-rule(2) the proviso, for the words, "one thousand rupees", the words, "twenty five thousand rupees" shall be substituted.
9. Substitution of rule 64.- For rule 64 of the said rules, the following shall be substituted, namely:
"64. Submission of Budget:-(1) An annual budget estimate of the income and expenditure of the committee for the ensuing market year shall be prepared in Forms 29A and 29B by the Secretary and placed before the committee. The committee shall meet before 15th January each year to consider the budget. After consideration and approval of the budget, the committee shall forward the same to the Director of Agricultural Marketing or the officer authorized by him for approval before the end of January every year.
(2) The budget shall be accompanied by the following statements:-
(a) A statement in Form 31 showing the details of the estimated expenditure on works proposed to be undertaken during the year already approved by the Director of Agricultural Marketing in the annual action plan. A statement in Form 32 showing the loans obtained, the balance outstanding under each loan and the amount to be discharged during the budget year on account of repayment of principal and payment of interest;
(b) A statement in Form 33 showing the fixed contribution (to the Consolidated Fund) payable by the committee.
(c) If the committee fails to adopt the budget estimates and forward it to the Director of Agricultural Marketing or the officer authorized by him on or before the time specified under sub-rule (1) the Secretary shall prepare and forward the budget with statements referred above to the Director of Agricultural Marketing or the officer authorized by him and it shall be deemed to have been duly adopted by the committee.
Provided that in case the budget is not received back by the Committee duly sanctioned by the Director of Agricultural Marketing or any other officer authorized by him before the commencement of the market year, it shall be deemed to have been duly approved."
10. Insertion of rule 64A and 64B.- After rule 64 of the said rules, the following shall be inserted, namely:-
"64A. Revision of budget.- If in the course of market year, the market committee finds it necessary, to modify the provisions made in the budget with regard to the receipts or to the distribution of the amounts to be expended on different heads it may make such modifications and submit for sanction of Director of Agricultural Marketing or the officer authorized by him.
64B. Supplementary Budget.- The market committee where budget has been approved by the Director of Agricultural Marketing or the authorized officer in the current financial year cause a supplementary budget to be prepared and submit to the appropriate authority for sanction before 15th of December of the current year.