Vidhi Codex

section 81

Preparation and sanction of budget

The Meghalaya State Agricultural Produce and Livestock Marketing (Promotion and Facilitation) (Amendment) Act, 2022
General2022140 sections12 chapters
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Chapter VIII BUDGET AND MARKET COMMITTEE FUND

Statutory text
  1. (1) Every Market Committee shall prepare and pass the budget of its in come and expenditure for the ensuing year in the prescribed form and shall submit it to the Managing Director for sanction before the prescribed date every year. The Managing Director shall sanction the budget with or without modification within one month from the date of receipt thereof. If the budget is not returned by the Managing Director within one month, it shall be presumed to have been sanctioned.
  2. (2) The Managing Director may also seek the consent of the Director, on the budget so passed under sub-section (1). If the budget with the comments of the Director is not returned within fifteen days from the date of its receipt, it shall be presumed that the Director has consented to.
  3. (3) The Market Committee may sanction and cause to undertake execution of construction works out of its Fund other than the permanent Fund referred to in sub-section (7) on the basis of the plans and designs approved by the Market Committee, in such manner as may be prescribed by the Board.
  4. (4) No expenditure except payment of pension will be made out of pension fund.
  5. (5) No expenditure shall be incurred by a Market Committee on any item if there is no provision in the sanctioned budget thereof unless it can be met by re-appropriation from saving under any other head. The sanction for re-appropriation may be obtained from the Managing Director provided that in case of re-appropriation from minor heads under one major head, sanction for re-appropriation will not be required.
  6. (6) A Market Committee at any time during the year for which any budget has been sanctioned, cause a revised or supplementary budget to be passed and sanction in the same manner as if it were an original budget.
  7. (7) The Market Committee shall make provision in its budget for crediting the amount in to the permanent Fund upto thirty percent of its gross receipt comprising of licence fee and market fee and to the pension Fund as prescribed form time to time by the Managing Director. No expenditure from the permanent Fund shall be incurred except with the prior approval or as per direction given by the Managing Director. No expenditure from this Fund or from amount as provided under sub-section (2) of Section 82 shall be proposed in the budget referred to in sub-section (1).
  8. (8) The Managing Director or Board while according sanction for construction work may at its discretion, direct that the execution of the works shall be entrusted to the Marketing Board or any other agency authorized by the State Government for this purpose.

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