Amendment status not verified — confirm the current text below against the official source.
Grants and loans for schemes and projects. - (1) The Government may make such further grants and loans to the Panchayats as they consider necessary for the execution of specific, schemes projects, programmes or plans relating to any of the matters administered by the Panchayats under such terms and conditions as may be fixed by the Government in this behalf. (2) Every Panchayat shall utilise such grants or loans under this section only for the specific purposes for which such grants or loans are given. (3) In respect of loans given by the Government under this section the provisions of the Kerala Local Authorities Loans Act, 1963 (30 of 1963) and the rules made there under shall apply. 140[196A. Annual Report on Grants. - (1) The State Chief Secretary shall, immediately after each financial year submit an annual report to the Governor in respect of the amount of annual grants due to the Panchayats under any law or otherwise and the amount actually paid to the panchayats and the criterion adopted by the Government for such payment. (2) The annual report under sub-section (1) Shall be laid before the Legislative Assembly within the first six months of the next financial year.]