Amendment status not verified — confirm the current text below against the official source.
(1) Every Gram Panchayat shall, at such time and in such manner as may be prescribed, prepare in each year a budget of its estimated receipts and disbursements for the following year and shall submit the budget to the Panchayat Samiti having jurisdiction over the area of the Gram. 294 The West Bengal Panchayat Act, 1973. XLI of 1973] (Part 11.—Gram Panchayat.—Chapter V1.—Property and Fund.—Sections 49, 50.—Chapter VII.—Nyaya Panchayats.—Section 51.) (2) The Panchayat Samiti may, within such time as may be prescribed, either approve the budget or return it to the Gram Panchayat for such modifications as it may direct. On such modifications being made the budget shall be resubmitted within such time as may be prescribed for approval of the Panchayat Samiti. If approval of the Panchayat Samiti is not received by the Gram Panchayat by the last date of the year, the budget shall be deemed to be approved by the Panchayat Samiti. (3) No expenditure shall be incurred unless the budget is approved by the Panchayat Samiti.