Budget estimate of the Grama Panchayat

(1) The Sarpanch shall in each year prepare and place before the Grama Panchayat for its consideration a budget estimate showing the probable receipts and expenditures for the following year and the Grama Panchayat shall, with such modifications as it thinks fit, submit the budget to each of the Palli Sabhas within the Grama for their recommendation under Sub-Section (6) of Section 6 and shall thereafter submit the same, along with the recommendations, if any, of the Palli Sabhas, to the Grama Sasans for its approval. (2) If during the course of any year the Grama Panchayat finds it necessary to alter the figures shown in the budget with regard to its receipts or to the distribution of the amount to be expended on different services undertaken by it a supplementary or revised budget may be framed by the Sarpanch and considered by the Grama Panchayat and with such modifications, if any, as it may think fit to make the budget shall, in the prescribed manner be submitted to the Grama Sasan for its approval. (3) On approval of the Grama Sasan to the annual budget or, as the case may be, the supplementary budget or revised budget, the Grama Panchayat shall forward the same to the Sub-Divisional Panchayat Officer appointed by the Director, who shall be competent to examine the budget and shall furnish his comments to the Grama Panchayat which shall be placed before the Grama Sasan for consideration and finalisation with or without any modification as may be necessary. (4) Save as otherwise expressly provided in this Act or the rules made thereunder no expenditure in excess of the annual budget estimate shall be incurred by the Grama Panchayat unless such excess has been adequately provided for in the Supplementary or revised budget estimates prepared in accordance with the provisions of this Section. (5) Subject to the provisions of this Act the Annual Budget estimate or the supplementary or revised budget estimate shall contain such particulars as may be prescribed: Provided that in every annual budget estimate made for the minimum working balance as may be determined by the Collector from time to time excluding, however, the income from endowments, and grants. (6) A Copy of the budget so finalised under Sub-Section (3) shall be forwarded by the Grama Panchayat to the Panchayat Samiti as well as the Zilla Parishad recompilation at their level.