Amendment status not verified — confirm the current text below against the official source.
(1) The Government shall create a Metropolitan Development Fund with a seed capital of Rs.200 crores for the purpose of administering this Act. (2) The Government shall create a Revolving Fund for the Metropolitan Development Authority with a fund of Rs.100 crores for the purpose of performing its functions under this Act and allocate finances based on the plans and programmes of the local bodies for undertaking development of amenities and infrastructure facilities as per plan programmes.