Section 62(1AA) in The Maharashtra Village Panchayats Act, 1959
(1AA)[ In respect of the panchayat to which the Sarpanch is directly elected under section 30A-1A, the provisions of this section shall apply with the following modifications :-(a)for sub-sections (1) and (1A), the following sub-sections shall be sustituted, namely,-"(1) The Sarpanch shall determine annually on or before 5th January of every year in such form as may be prescribed, a statement of,--(a)the opening balance in the fund and estimated income of the panchayat for the following financial year ;(b)the expenditure proposed on establishment and discharge of its duties under section 45 ;(c)the amount to be contributed to the District Village Development Fund established under section 133 ;(d)the statement made under clause (a), (b) or (c), as the case may be, shall be placed by the Sarpanch, before the panchayat ;(e)the panchayat shall in respect of the said statement, finalise its recommendations on or before the 31st of January ;(f)the statement along with the recommendation of the panchayat under clause (e), shall be placed before the Gram Sabha, which may ratify it on or before 28th of February ;(g)after the decision of the Gram Sabha under clause (f), the said statement shall be submitted to the Panchayat Samiti.(1-A) If, on or before the date specified in sub-section (1),-(a)the Sarpanch fails to submit the statement ; or(b)the panchayat fails to make recommendation in respect of the statement ; or(c)the Gram Sabha fails to take decision in respect of ratification of the recommendations, the Secretary shall prepare the statement, regarding the mandatory and office expenditure to be carried out and submit it to the Panchayat Samiti in the form prescribed under the said subsection.";(b)in sub-section (2), for the portion beginning with words " The Panchayat Samiti " and ending with words " increased or decreased: " the portion " The Panchayat Samiti shall, either approve the statement or direct that the proposed expenditure on any of the duties falling under section 45 shall be increased or decreased on or before 31st March of the every year. Expenditure shall be carried out as per this statement till the date budgetary process outlined in sub-section (1) of this section is completed:" shall be substituted ;(c)in second proviso of sub-section (2), after the words " be increased or decreased" the words and figure " on or before 31st March of every year and in case of revised and supplementary statement " shall be inserted.]
