163. Budget Estimates of District Panchayat and Re-appropriation of Fund. - (1) Every district panchayat shall have prepared annually on or before the 15th February of the current year or such date not later than the month of February of the current year as may be approved by the competent authority, in such form and manner as may be prescribed in this behalf, a budget estimate of its income and expenditure for the next year:
Provided that the budget estimate shall be so prepared that the end of the year the panchayat shall have at its credit a balance of not less than such minimum amount as may be prescribed in that behalf.(2)The district panchayat shall, as soon as may, be after the said date consider the budget estimate so prepared and approve the same on or before the 31s' March of the current year with or without modifications as it shall think fit.(3)Where any district panchayat has failed to comply with the provisions of subsection (2), it shall be lawful for the State Government to form an opinion that the panchayat is incompetent to perform the duties imposed on it or functions entrusted to it under the provisions of this Act.(4)The district panchayat may, if necessary, at any time during the year for which a budget estimate has been approved, cause a revised or supplementary budget estimate to be prepared and shall consider and approve the same in the manner as if it were an original annual budget estimate.(5)Re-appropriation of funds in a budget estimate may be made from time to time subject to the same approval as is required for the budget estimate.
