The following points shall be taken into consideration while framing the Budget es- (PR)304 various items of work, which may be entrusted to it, so that the Gram Panchayat may frame budget on a realistic basis. The General Adnlinistralion Committee shall be thereaftey, examine the proposals and prepare an estimate of the receipt and expenditure of the Gram Panchayat for the next ' .financial year in Form GPBE-1 and submit it to the Gram Panchayat along with its reports for 'Consideration and ~pproval.
4. Consideration and Approval of budget Estimates.-The Gram' 'Panchayat .shall consider the budget estimates and may make such modifications and additions thereto as it may think fit and shall submit the same to the Prescribed OfficerPanchayat. ' On receipt of the budget estimates -from the Gram Panchayat, the Prescribed Officer shall examine the estimates and shall approve them with or without Inodification and return back to the Gram Panchayat.