Amendment status not verified — confirm the current text below against the official source.
(1) 'Every Gaon P i.c ia y ,! sha I, at tuch time and in such manner as may ■: prescribe i, prepare in each year a. budget of its estimated receipts a d disburse tn t for the following year and shall submit tae budget to «he-.Anchalik Panchayat, having jurisdiction over the Gaon Panchayat. (2) The Anchlik Panchayatmay within such time as m aj,b e pres cribed, either approve the budg\ t or return it to the Gaon Panchayat fay such modification as it may direct. On suich modification being made THE ASSAM GAZETTE, EXTRAORDINARY, MAY 6, 1994 617 he budget shall be re-submitted within such time as may be prescribed for approval of the Anchalik Panchayat. (3) No expendi ure shall be incurred unless the budget is appro ved by the Anc aiik Panchayat. If the Anchalik Panchayat fails to convey its approval wit in he t me prescri ed for the p rpos ■, the budget shall be deemed to have been approved by the Anchalik Pane ayat. Accounts of the Gaon PanChay; t.