Act Number: 47

Act Name: The Oil Industry (Development) Act, 1974

Year: 1974

Enactment Date: 1974-09-26

Long Title: An Act to provide for the establishment of a Board for the development of oil industry and for that purpose to levy a duty of excise on crude oil and natural gas and for matters connected therewith.

Ministry: Ministry of Petroleum and Natural Gas

Department:

Section 17: Grants and loans by the Central Government.
    The Central Government may also, after due appropriation made by Parliament by law in this behalf, pay to the Board by way of grants or loans such sums of money as the Central Government may consider necessary.
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