Sharing of revenue

The revenue earned from each Anchal Forest Reserve shall be shared by the State Government and the concerned Anchal Samity and Village in the manner hereinafter provided. (i) The State Government shall meet the ordinary non-recurring and recurring expenditure of any year out of the revenue received during the year from the management of the Anchal Forest Reserve. The balance left after meeting such expenditure shall hereinafter be referred to as the net revenue of the year. (ii) The State Government shall retain every year fifty per cent of the net revenue of the year. Provided that if in any year, the ordinary non-recurring and recurring expenditure equals or exceeds the ordinary non-recurring and recurring expenditure over the revenue receipts, such excess expenditure shall be added to capital expenditure for the purpose of clause (iii). (iii) All capital expenditure in a year shall be borne in the first instance by the State Government which shall be entitled to recover such capital expenditure at the rate of ten per cent till such time it is completely recovered. If there is any deficiency in any year in the recovery of capital expenditure as aforesaid, it shall be made out of the net revenue of succeeding year or years so that total recovery of capital expenditure shall be made without default. (iv) The State Government shall transfer to the concerned Anchal Samity and Village every year, in equal share, 50% of the net revenue of the year less the amount the State Government is entitle to recover under clause (iii). (v) The State Government shall arrange to disburse to the Anchal Samity and Village, the amount payable under clause (iv) every year. (vi) The Anchal Samity on receipt of the amount referred to in clause (iv) shall credit it to the Anchal Samity fund constituted under section 37 of the NEFA Panchayat Raj Regulation, 1967 (3 of 1967). Provided that 50 percent of such amount shall be utilized for the development activities of the village concerned in such manner and by such authority as may be prescribed; (vii) [deleted].