(2)With the approval of the Government, the Village Panchayat or the Panchayat Union Council shall give name to new village road or panchayat union road, as the case may be, and shall also give name to park, playground, bus-stand, arch or new property belonging to, or vesting in, Village Panchayat or Panchayat Union Council and may, subject to the approval of the Government, alter the name of any such road, park, play-ground, bus-stand, arch or property.