182. Presentation of accounts and budget of Panchayat.
(1)The Secretary shall prepare and lay before the Panchayat at a meeting, which shall be held between the first day of February and the tenth day of March, a complete account of the actual or expected receipts and expenditure for the financial year ending on the thirty-first day of March next following together with a budget estimate of the income and expenditure, of the Panchayat for the financial year to commence on the first day of April next following.(2)The Panchayat shall thereupon decide upon the appropriations and the ways and means contained in the budget of the year to commence on the first day of April next following. The budget as passed by the Panchayat shall be sent to the Zilla Panchayat [and the Block Development Officer] [Inserted by the Amendment Act 1 of 1997.] before such date as may be fixed by the Government.(3)In such budget estimate, the Panchayat shall among other things,-(a)make adequate and suitable provision for such services as may be required for the fulfillment of the several duties imposed on the Panchayat by this Act, or any other law;(b)allow for a balance at the end of the year of not less than such sum or percentage of income as may from time to time be fixed by the Government either generally for all Panchayats or specially for any Panchayat;(c)provide for the payment, as they fall due, of all installments of principal and interest for which the Panchayat may be liable in respect of loans contracted by it.(4)If such budget estimate is not in accordance with the provisions of this Act or the rules and orders issued thereunder, the Zilla Panchayat may within two months from the date of receipt of the budget, modify the same to secure compliance with this Act, the rules or the orders:Provided that the Zilla Panchayat shall not have power to direct that total proposed expenditure shall exceed the total of the estimated income of the Panchayat for the following year and the opening balance.(5)If the Panchayat fails to pass the budget estimate on or before the date mentioned in sub-section (1) the Secretary shall forward the budget estimate to the Zilla Panchayat and it shall approve it with or without modification. The budget as approved by the Zilla Panchayat shall be certified by the Chief Executive Officer and thereupon shall be deemed to have been duly approved by the Panchayat.
