section 43
Metropolitan Development Fund and its application
The Madhya Pradesh Metropolitan Region Planning and Development Act, 2025General202564 sections
Statutory text
- (1) The Metropolitan Development Authority shall manage and operate the Metropolitan Development Fund to which shall be credited:-
- (i) all moneys received from the State Government by way of revolving fund, grants, loans, advances or otherwise;
- (ii) all moneys borrowed by the Metropolitan Region Development Authority by way of loans or bonds or in any manner from any other source;
- (iii) all moneys received by the Metropolitan Region Development Authority from the disposal of lands, buildings and other properties, movable and immovable;
- (iv) all development charges or other charges, fees received under this Act or rules or regulations made thereunder;
- (v) contribution from Local Authority as determined by the Government;
- (vi) contribution from share of net profit of Town and Country Development Authoritys as determined by the Government,
- (vii) all moneys earned from remunerative projects and schemes by way of rent or otherwise and disposal of its assets;
- (viii) sum of money received from projects implemented under Town Development Schemes;
- (ix) sum of money received by way of user charges;
- (x) any other sum of money received by the Metropolitan Region Development Authority from any other sources for performing its functions.
- (2) The Metropolitan Development Fund shall be applied towards meeting-
- (i) the expenditure incurred in the administration of this Act which shall be maintained in a separate account;
- (ii) the cost of land acquisition and areas mentioned under Town Development Schemes and development schemes undertaken by the Metropolitan Region Development Authority for the proposes of ensuring planned development;
- (iii) any expenses incurred by the Metropolitan Region Development Authority in connection with preparation of Metropolitan Development and investment Plan, undertaking surveys, studies, Investment plans and execution of projects and schemes;
- (iv) for maintaining sinking fund and other separate accounts required under the Act; and
- (v) the expenditure for such other purposes not inconsistent with this Act.
- (3) The Metropolitan Region Development Authority shall maintain a sinking fund for the repayment of loans and moneys borrowed and shall pay every year into the sinking fund such sum as may be sufficient for repayment within the period fixed of all moneys so borrowed.
- (4) The Metropolitan Region Development Authority may accept grants, subventions, donations and gifts from the Central Government or local Authority or any individual or body whether incorporated or not, for all or any of the purpose of this Act on such terms and conditions as mutually agreed upon.
- (5) Loans and bonds issued under this section may be guaranteed by the Government as to the repayment of the principal and the payment of interest at such rate as may be agreed upon.
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