(1)Every Anchal Panchayat shall, at such time and in such form as may be prescribed, prepare in each year a budget showing its estimated receipts and disbursements for the following year and may, from time to time, prepare a supplementary estimate providing for any modification thereof and submit it to the prescribed authority.(2)The prescribed authority shall pass the budget with such modification, if any, as it may think fit to make, and the Anchal Panchayat shall abide by the budget so passed.
