Power to borrow money for Development Plan for making or execution of a town planning scheme.

(1) A Planning and Development Authority may borrow money at such rate of interest and for such period and upon such terms, as the Government may approve, for the purpose of a Development Plan or the making or execution of a town planning scheme. (2) Any expenses incurred by a Planning and Development Authority or the Government under this Act in connection with the making and execution of a Development Plan or a town planning scheme shall be defrayed out of the funds of the Planning and Development Authority.