(1)The competent officer shall be competent to sanction expenditure from the Nagar Vikas Nidhi up to the limits conferred on them and it shall be compulsory to follow the prescribed procedure and conditions.(2)The distribution of amount to the local bodies for expenditure shall be made according to the recognized principles and no decrease/increase can be made in this.(3)The criterion for expenditure from the Infrastructure Fund shall he prescribed by the Committee and neither any project shall be taken up nor expenditure shall be incurred for this purpose against the recognized criterion.(4)A minimum ten per cent of the fund shall be kept for emergency expenditure in the Infrastructure Fund and Repayment Account Permission shall not be given for spending the whole amount from such account.(5)The account of the fund shall be kept in the personal deposit account under the Public Account in the Government Treasury in the name of the Director of Urban Administration and Development and all the transactions shall be made through cheques. The cheques shall jointly be signed by the Director or a Class I Officer nominated by him, and the Accounts Officer of the Directorate or a senior officer who is doing the work of the Account.
