Section 3 in Punjab Municipal Infrastructure Development Fund Act, 2011
3. Constitution of the Fund.
(1)There shall be constituted a Fund, to be called the Punjab Municipal Infrastructure Development Fund, which shall vest in the State Government.(2)[ The grant-in-aid shall be deposited into the Fund:Provided that the amount of grant-in-aid, so deposited into the Fund, shall not be less than Rs. 200 crore (Two hundred crore rupees) per annum or proportion thereof:Provided further that the amount of grant-in-aid shall increase at the rate of fourteen per cent annum over the previous year:Provided further that the amount of grant-in-aid shall be deposited into the Fund on monthly basis.;and] [Substituted by Punjab Act No. 16 of 2017, dated 8.8.2017.](3)[ ***] [Omitted by Punjab Act No. 16 of 2017, dated 8.8.2017.]
