Chapter IV MANAGEMENT OF STATE ROAD DEVELOPMENT FUND

(i) The State Government shall have the power to administer the Fund and shall - (a) take such decisions regarding investment on projects of State road Development as it considers necessary; (b) take such measures as may be necessary to raise funds for the development of State roads; (c) allocate and disburse such funds as it considers necessary to the department / agency responsible for the development of State roads. (ii) (a) The State Government may constitute a Governing Body as may be prescribed for the management of the Fund. (b) The Governing Body constituted under clause (a) shall exercise such powers and discharge such functions, as may be prescribed.

The State Government shall be responsible for the - (i) administration and management of the Fund; (ii) co-ordination, completion and timely utilization of all sums allocated out of the Fund; (iii) sanction of schemes for development of State Roads in such manner, as may be Prescribed; (iv) formulation of criteria on the basis of which the specific projects of development of State Roads shall be approved and financed out of the Fund; and (v) release of funds to department or organizations for specific projects of state roads development and monitoring of such projects and the expenditure incurred thereon.