Kerala Local Authorities Loans Act, 1963 (30 of 1963) and the rules made there under shall apply.

Annual Report on Grants. - (1) The State Chief Secretary shall, immediately after each financial year submit an annual report to the Governor in respect of the amount of annual grants due to the Panchayats under any law or otherwise and the amount actually paid to the panchayats and the criterion adopted by the Government for such payment.

1. (2) The annual report under sub-section (1) Shall be laid before the Legislative Assembly within the first six months of the next financial year.]