(1)Every Anchalik Panchayat shall at such time and in such manner as may be prescribed, prepare in each year, a budget of its estimated receipts an disbursements for the following year and submit the budget to the Zilla Parishad.(2)The Zilla Parishad, within such time may be prescribed, either approve the budget or return it to the Anchalik Panchayat for such modifications as it may direct. On such modification being made, the budget shall be submitted within such time as may be prescribed by the Zilla Parishad. If the approval of the Zilla Parishad is not received by the Anchalik Panchayat by the last date of the year, the budget shall be deemed to be approved by the Zilla Parishad.(3)No expenditure shall be incurred unless the budget is approved by the Zilla Parishad.(4)The Anchalik Panchayat may prepare in each year a supplementary estimate providing for any modification of its budget and may submit to the Zilla Parishad for approval within such time and in such manner as may be prescribed.
