- [(1) A Gram Panchayat may prepare in each year a supplementary estimate providing for any modification of its budget and [approve it in a meeting specially convened for the purpose and in the presence of at least half of the existing members] [Section 49 renumbered as sub-section (1) of that Section and sub-Section (2) inserted by W.B. Act 18 of 1994.] within such time and in such manner as may be prescribed.] [[Sub-Section (2) substituted by W.B. Act 18 of 1994, which was earlier as under:-'(2) The Panchayat Samiti may, which such time as may be prescribed, either approve the budget or return it to the Gram Panchayat for such modifications as it may direct. On such modifications being made the budget shall be resubmitted within such lime as may be prescribed for approval of the Panchayat Samiti. If approval of the Panchayat Samiti is not received by the Gram Panchayat by the last of the year, the budget shall be deemed to be approved by Panchayat Samiti.'.]](2)[ A copy of the supplementary estimate as approved under sub-section (1) shall be forwarded to the Panchayat Samiti having jurisdiction.] [Section 49 renumbered as sub-Section (1) of that Section and sub-Section (2) inserted by W.B. Act 18 of 1994.]
