Chapter X MARKET DEVELOPMENT FUND AND MARKET FUND AND AUDIT THEREOF

(1) All moneys received by the Board shall be credited into a fund to be called the Market Development Fund. (2) No expenditure from the Market Development Fund shall be defrayed unless it is sanctioned by the competent authority. The Market Development Fund shall be operated in the manner as may be prescribed in the rules. Explanation – For the purpose of this sub-section ‘competent authority’ shall mean the Board, or Vice-Chairman or any other officer of the Board to whom the powers of the Board to incur expenditure have been delegated, as the case may be. (3) The amount standing to the credit of the Market Development Fund shall be kept or invested in such manner as may be prescribed.

(1) The Market Development Fund shall be utilised for the Board for discharge of functions entrusted to its under this Act. (2) Without prejudice to the generality of sub-section (1) Market Development Fund may be utilized for the following purposes, namely namely: (i) better marketing of agricultural produce; (ii) collection and dissemination of market rates and news and other information relating to marketing of agricultural produce; (iii) grading and standardisation of agricultural produce; (iv) improvement works in the markets and their respective areas; (v) acquisition of land for construction of office building, guest houses, staff quarters, training centers, and maintenance thereof; (vi) acquisition of land for developing market for Marketing Committees and development thereof; (vii) giving aid to financially weak marketing committee in the shape of grant or aid or both. (viii) payment of salary allowances gratuity, pension, compensate allowances, compensation for injury or death resulting from accidents while on duty; (ix) payment of other dues to staff such as leave encashment on retirement or yearly basis, medical aid as may be laid down in the service regulations; (x) payment of provident fund, leave salary and pension contribution to government servant on deputation or other dues, payment of actual reimbursement in case of hospitalisation in authorised hospitals as laid down in service regulations; (xi) payment of traveling and other allowances to the Chairman, Vice-Chairman, members and employees of the Board; (xii) meeting of any legal expenses by the Board; (xiii) construction of go-downs, if required by the marketing committee/ marketing committees; (xiv) expenses incurred in auditing the accounts of the Board; (xv) organising or arranging workshops, seminars, exhibitions, training programmes etc. on development of agricultural marketing including participation therein; (xvi) imparting education in agricultural marketing to staff; (xvii) execution of any other function / work assigned to the Board under this Act or as directed by the Government.

The accounts of all receipts and expenditure of the Board and of each marketing committee shall be kept in such manner and in such form as may be prescribed by regulation.

(1) The account of the Board and the marketing committee shall be audited by a person or persons authorised by the Director. Explanation – The audit for any year under sub-section (1) shall include – (a) examination and verification of cash balance and other securities; (b) valuation of the Asset and Liabilities; (c) investigations into and verification of the circumstances and reasons for the variation between the budget estimates and actual expenditure, (d) audit of the work accounts; (e) physical verification of stores and stocks. (2) The person auditing the accounts of the Board or of a marketing committee shall have free access to all the books of accounts and to all papers, vouchers, stocks and property and other records and correspondence relating to a accounts of the Board or of the marketing committee, as the case may be, who shall be allowed to verify the cash balance and physical check of such property. (3) The vice-Chairman or any other officer of the Board or the Marketing Committee, as the case may be, shall furnish to the person auditing the accounts all such information as to any transaction and working of the Board or the Marketing Committee as the case may be, as such person may require. (4) The audit fee, as may be determined by the Director, shall be paid by the Board or the Marketing

(1) All fees and other moneys received by a Marketing Committee under this Act, all sums realised by way of penalty (otherwise than by way of fine in a criminal case), all loans raised by the committee, and all grants, loans or contributions made by the Government to the committee, shall form part of a fund to be called the ‘Market Fund’. (2) Any money received by the marketing committee by way of arbitration fee or as security for costs in arbitration proceedings relating to disputes or any money received by the committee by way of security deposit contribution to provident fund or for payment in respect of any notified agricultural produce, or charges payable to weighman, palledar and other functionaries and such other moneys received by marketing committee as may be provided in the rules or by-laws shall not form part of the “Market Fund” and shall be kept in such manner as may be prescribed.

(1) Subject to the provisions of section 88, the Market Fund may be expended for the following purposes only, namely: - (i) the acquisition of a site or sites for the market yard; (ii) the establishment, maintenance and improvement of the market yards; (iii) the construction and repair of buildings necessary for the purposes of the market and for convenience or safety of the persons using the market yard; (iv) the maintenance of standard weight and measures; (v) the meeting of establishment charges including payment and contribution of provident fund, pension, gratuity, leave encashment on retirement or yearly basis, actual reimbursement of hospitalisation expenses in the authorised hospitals or other items as may be laid down in the regulations / rules; (vi) loans and advances to the employees of the committees; (vii) the payment of interest on the loans that may be raised for the purpose of the market and provisions of sinking fund in respect of such loans; (viii) the collection and dissemination or information relating to crop statistics and marketing of agricultural produce; (ix) expenses incurred in auditing the accounts of the marketing committee; (x) payment of honorarium to Chairman traveling allowances of Chairman, Vice-Chairman and other members of the Marketing Committee and sitting fees payable to number for attending the meeting; (xi) contribution of the Board as prescribed and Consolidated Fund of the National Capital Territory of Delhi to the extent required for salary of the employees of the Government as provided in clause (b) of sub-section (2) and sub-section (3) of this section; (xii) contribution to any scheme for development of agricultural marketing including transport and scientific storage; (xiii) to provide facilities like grading services and communication to agriculturists in the market area; (xiv) to provide for development of agricultural produce in the market area; (xv) payment of expense son elections under this Act; (xvi) incurring of all expenses for research, extension and training in marketing of agricultural produce; (xvii) prevention, in conjunction with other agencies, State, Union Territory, Central and others in relation to distress sale of agricultural produce; (xviii) fostering co-operative marketing and assisting co-operative marketing societies in the procurement and organization of profitable disposal of produce particularly the produce belonging to small and marginal farmers; (xix) acquisition of land for construction of office building, guest house for farmers and visitors and staff quarters and maintenance thereof; hiring build up accommodation for office use, guest house or for other purpose of agricultural marketing; (xx) any other purpose connected with the marketing of agricultural produce under this Act whereon the expenditure of the marketing committee fund is in the public interest subject to the prior sanction of the Board. (xxi) contribution to centralized pension fund of the Board as may be prescribed. (2) Without prejudice to the generality of sub-section (1), every marketing committee shall, out of the “Market Fund” pay – (a) to the Board, as contribution, such percentage of its income derived from the licence fee, market fee, fines received as specified below, to enable the Board to defray its expenses on office establishment and other expenses incurred by it in the interest of the marketing committee generally, - (i) if the annual income of a marketing committee does not exceed ten thousand rupees, ten percent. (ii) if the annual income of a marketing committee exceeds ten thousand rupees but does not exceed fifteen thousand rupees, on the first Rs. 10,000 ten percent. on the next five thousand rupees or part thereof… fifteen percent. (iii) if the annual income of a marketing committee exceeds fifteen thousand rupees, on the first Rs. 10,000 Ten percent on the next Rs.5,000 Fifteen percent on the remaining income Twenty percent (b) to the Government, the cost of any special or additional staff employed by the Government, in consultation with the marketing committee, for giving effect to the provisions of this Act in the market area. (3) The Government shall determine the cost of the special or additional staff referred to in clause (b) of sub-section (2) and shall, where the staff is employed for the purposes of more than one marketing committee, apportion such cost among the marketing committees concerned in such manner as it thinks fit and the decision of the Government determining the amount payable by any marketing committee shall be final.

All money payable to the credit of the Market Fund and all other moneys received by a marketing committee shall be kept in a bank or banks as may be approved by special or general order issued by the Director.