Amendment of section 37

Amendment of section 37.—In section 37 of the principal Act, for sub-section (1), the following sub-section shall be substituted, namely:—

1. (1) Every Gram Panchayat shall, within such time as may be prescribed, prepare and submit to the Panchayat Samithi a budget containing a detailed estimate of income and expenditure for the ensuing year: Provided that the Panchayat Samithi may, if it is satisfied that the budget prepared by the Gram Panchayat is not in accordance with the provisions of this Act or the rules made thereunder, return the same to the Gram Panchayat with such modifications as it deems necessary, and the Gram Panchayat shall, after Considering the modifications, finalise the budget.