¹[CHAPTER IV-A - Budget] 

25-A    Preparation and sanction of budget^{.-   2}[(1) The Managing Director shall classify the Market Committees in either A, B, C or D categories on the standard as may be prescribed.  All the Market Committees shall prepare and pass their budget of income and expenditure for the ensuing year before first April every year in accordance with the guidelines prescribed by the Board: 

            Provided that budget of market committees classified as A and B categories shall be passed by the Managing Director]. 

(2)        No expenditure shall be incurred by a market committee on any item, if there is no provision in the sanctioned budget therefor, unless it can be met by re-appropriation from saving under any other head. 

(3)        A market committee may at any time during the year for which any budget has been sanctioned cause a revised or supplementary budget to be passed and sanctioned in the same manner as if it were an original budget. 

³[(4)     The market committee may sanction and cause to undertake execution of construction works out of its fund other than the permanent fund referred to in sub-section (6) on the basis of the plans and designs approved by the market committee, in such manner as may be prescribed by the Board. 

(5)        The construction works may be entrusted for execution to the Board or any Department or undertaking of the State Government authorised by the State Government for this purpose.] 

⁴[(6)     The market committee shall make provision in its budget for crediting the amount into the permanent fund at the rate of twenty percent of  its gross receipt comprising of licence fee and market fee.  No expenditure from the permanent fund shall be incurred except with the prior approval or as per direction given by the Director.  No expenditure from this fund or from surplus amount as provided under sub-section (1) of Section 38 shall be proposed in the budget referred to in sub-section (1)].

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