Amendment status not verified — confirm the current text below against the official source.
All capital expenditure in a year shall be borne in the first instance by the State Government which shall be entitled to recover such capital expenditure at the rate of ten percent till such time it is completely recovered. II there is any deficiency in any year in the recovery of capital expenditure as aforesaid; it shall be made out of the net revenue of succeeding year or years so that total recovery of capital expenditure shall be made without default. tv. The State Government shall transfer to the Village Panchayat every year fifty percent of the net revenue of the year less the amount the Stat. Government is entitled to recover under clause (iii). This amount shall be utilised for the development activities of the village concerned in such manner and by such authority as may be prescribed. fl __________ d e.._ _