(1)There shall be for each Grama Panchayat a Fund called the Grama Panchayat Fund.(2)The following shall form part of , or be paid into the Grama Panchayat Fund, namely:-(a)the amount which may be granted or passed on to the Grama Panchayat by the Government or the Zilla Panchayat or Taluk Panchayat under the provisions of this Act or any other Act, or on any other account;(b)the proceeds of any tax, rate and fee imposed by the Grama Panchayat;(c)all sums received by the Grama Panchayat by way of loans or contributions from the Government or any other authority or person or by way of gift;(d)the rent or other income from, or sale proceeds of any immoveable or movable property owned by or vested in the Grama Panchayat; and(e)all other sums received from any source whatsoever.(3)The amount at the credit of the Grama Panchayat Fund shall be kept in the Government Treasury of the Taluk or with the approval of the Executive Officer in any scheduled bank or a co-operative bank situated in the panchayat area or the neighbouring panchayat area.
