(1)Every Gram Sabha shall have its own fund to be called the Gram Nidhi and may accept grants, donations, bequest, gifts or loans from the Central or the State Government or the Gram Panchayat of the area concerned established under Section 3 of the Bihar Panchayat Raj Act, 1947 (Bihar Act VI of 1948) or any persons or institutions for all or any of the purposes of this Act.
