Constitution of the Development Fund31

Infrastructure200259 of 56 sections available8 chapters

Chapter V LEVY OF FEE AND PUNJAB INFRASTRUCTURE DEVELOPMENT FUND

Statutory text

(1) The State Government shall constitute a Fund to be known as the Development Fund which shall vest in the Board.
(2) The amount of fee charged and collected under this Act, shall be credited to the Consolidated Fund of the State out of which, a budgetary grant may then be provided to the Development Fund, within such period and of such amount, as may be considered necessary. Any other grant from the Central/ State Government, local authorities and any of the authorities shall also be credited to the Development Fund. 32
(3) The Development Fund shall be applied for the development of infrastructure sectors by providing infrastructure facilities in the State of Punjab for the benefit of the persons from whom the fee has been charged and collected public at large and for the infrastructure facilities of the country having direct benefit to the economy of the State of Punjab.

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