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State of Gujarat - Section

Section 222 in The Gujarat Panchayats Act, 1993

222. District Village Encouragement Fund.

(1)In each district there shall be established by the district panchayat a fund to be called the District Village Encouragement Fund which shall consist of the payments made into it under sub-clause (b) of clause (ii) of sub-section (3) of section 219 and which shall be utilised by the district panchayat for making incentive grants to village panchayats to encourage them to raise their income by levying taxes and fees leviable by them under this act.
(2)The fund established under sub-section (1), shall be non-lapsable and shall be invested in the prescribed manner.
(3)[ and (4) ***.] [Deleted by Gujarat Act No. 19 of 2017, dated 12.4.2017.]
(3) The fund shall be utilised for granting loans to village panchayats in accordance with the rules and for payment of interest on contributions made by the said panchayats.(4) The State Government shall make rules prescribing the purposes for which loans may be granted the terms and conditions (including the rate of interest and of penal interest) on which such loans may be made, the period therefor and all matters incidental to the grant of loans.