Section 7(j) in Punjab Panchayat Samitis and Zila Parishads Finance, Budget and Accounts Rules, 2014
(j)while framing estimates for new expenditure, attention should be paid to the necessity of raising new resources to meet the additional demand and the proposals for the necessary measures viz, fresh taxation, increase in existing level of taxation, economic, etc., should be simultaneously drawn up and considered. Along with the budget, complete accounts of the receipts and expenditure for the financial year preceding the one during which the estimates are framed should also be furnished by the Panchayat Samiti. Any variation in the figures of the previous year and the ensuing year should also be explained.
