 bill no 47 of 2007 the damodar valley corporation (amendment) bill, 2007 a billfurther to amend the damodar valley corporation act, 1948be it enacted by parliament in the fifty-eighth year of the republic of india as follows:—short title and commencement1 (1) this act may be called the damodar valley corporation  (amendment) act,2007(2) it shall come into force on such date as the central government may, by notification in the official gazette, appoint''(1) the corporation shall consist of—(a) a chairman; (b) a member (technical), and a member (finance); (c) one representative from the central government;5(d) two representatives one each from the state governments of jharkhand and west bengal;(e) three independent experts one each from the field of irrigation, water supply and generation or transmission of electricity10(1a) the chairman and members under clauses (a), (b) and (d) of sub-section(1) shall be appointed by the central government in consultation with the state governments concerned while the members under clauses (c) and (e) shall be appointed by the central government, by notification in the official gazette(1b) the chairman and members under clauses (a) and (b) of sub-section (1)shall be whole-time while the members under clauses (c) to (e) shall be part-time" statement of objects and reasonsthe damodar valley corporation was constituted under the damodar valley corporation act, 1948 with the authority for flood control, irrigation, power generation and integrated development of the damodar river valley the corporation consists of a full-time chairman and two other part-time members appointed by the central government after consultation with the state governments of   jharkhand and west bengal a number of changes have taken place in the activities of the corporation in tune with the industrial development in the valley area and the increased demand for power by industries especially coal, steel and other consumers the administrative staff college of india has recommended restructuring of the corporation to make it more broad-based and professional so that it may discharge its responsibilities more effectively and efficiently therefore, amendments to the act are proposed so that besides the chairman there are two full-time members with functional responsibilities for finance and technical matters the remaining members, who are part-time shall include one representative each from the central government, and the state governments of jharkhand and west bengal, and three independent experts, one each from the field of irrigation, water supply and generation or transmission of electricity2 the bill seeks to achieve the above objectsnew delhi;sushil kumar shindethe 4th april, 2007 financial memorandumthe bill, if enacted and brought into operation would involve expenditure from the fund of the damodar valley corporation for the post of member (finance), member (technical) and three independent experts, one each from the field of irrigation, water supply and generation or transmission of electricity it has been estimated that approximate expenditure is rs 65 lakhs (rupees sixty-five lakhs only) per annum for full-time members and rs 8 lakhs (rupees eight lakhs only) per annum for part-time members to be funded from the damodar valley corporation no expenditure from the consolidated fund of india shall be incurred annexure extract from the damodar valley corporation act, 1948(14 of 1948)    4 (1) the corporation shall consist of a chairman and two other members appointed by the central government after consultation with the provincial governmentsconstitution of the corporation     lok  sabha————— a billfurther to amend the damodar valley corporation act, 1948—————(shri sushil kumar shinde, minister of power)mgipmrnd—1636ls(s3)—24-04-2007