| 1 | Joint Secretary, Ministry of Ayush | Chairperson, IFC |
| 2 | AS & FA or his representative, Ministry of Health & Family Welfare, Nirman Bhawan, New Delhi | Member |
| 3 | Dr. Kousthubha Upadhyaya, Advisor (Ayurveda), Ministry of Ayush | Member |
| 4 | Chief Controller of Accounts, Ministry of Health & Family Welfare, Nirman Bhawan, New Delhi | Member |
| 5 | Director General, Central Council for Research in Ayurvedic Sciences (CCRAS) | Member |
| 6 | Accounts Officer, MDNIY, New Delhi. (An outside expert of Accounts/Finance serving officer of Government/Autonomous Institute nominated by Ministry of Ayush) | Member |
| 7 | Vd. Devendra Triguna [One expert on Ayurveda (from the Governing Body) nominated by the Chairperson of the Executive Council] | Member |
| 8 | Director, AIIA, New Delhi | Member Secretary |