Section 163(1) in The Gujarat Panchayats Act, 1993
(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.
