Grants and Loans to

1[Mandal Panchayat] .- (1) The market committee shall pay annually to every

1[Mandal Panchayat] entrusted with powers and duties under section 97, a sum equal to seventy-five per cent of the licence fees collected from market functionaries operating exclusively in the area under the jurisdiction of such

1[Mandal Panchayat] .

1. (2) A market committee may give initial financial assistance by way of loan without interest to a 1[Mandal Panchayat] entrusted with powers and duties under section 97, repayable at such times and in such instalment as may be agreed upon between the market committee and the 1[Mandal Panchayat] .

¹ Substituted by Act 35 of 1986 w.e.f.17.6.1986