Preparation and sanction of Budget

The Market Committee shall make provision in its budget for crediting the amount into the permanent fund at the rate of twenty percent of its gross receipt comprising of license fee and market fee and to the pension fund as prescribed form time to time by the Director/Managing Director. No expenditure from the permanent fund shall be incurred except with the prior approval or as per direction given by the Director/ Managing. Director. No expenditure from this fund or from amount as provided under sub- section (2) of Section 58 shall be proposed in the budget referred to in sub - section(1),