Amendment status not verified — confirm the current text below against the official source.
(I) Ersery Gram Panchayat shall, at such time and in such manner as may be prescribed, prepare in each year a budget of 1ts estimated receipts and disbursements for the followmg year nnd after the Gram Sabha has considered it, as provided in section 9 submit it with such modification, if ay, as it may consider necessary to make, to the prescribed autlwnty for sanction through the Anchal Panchayat concerned, and the A.nclwl Panchayat shall forward the same to. the prescribed authority with such observations as it may tlnnk fit to make, and thereupon the presci-ibed author1t_y shall pass the budget with such modifications, if any, as 1t may think fit to make, and the Gram. Panchayat shall abide by the budget as passed by the prescribed authority. (2) ':L1he Gram. Panchayat may prepare in each year a supplementary estimate providing for any modificati_on of its budget and may submit it to the prescribed athorty for sanction in the manner indicated in the foregoing sub-sect1o. Audit of accounts of Anchal Panchayat and Gram Panch.ayat. Budget of Gram Panchayat.