(1) A fund to be called "the Agricultural Marketing Development Fund" is hereby established, which shall be maintained and administered by the State Marketing Board.
(2) The following shall form part of, or be paid into, the Agricultural Marketing Development Fund (hereinafter called "the Development Fund"), namely :-
(a) all contributions received by the State Marketing Board from the Market Committee under sub-section (2) of section 37;
(b) all contributions, grants or loans made or sanctioned to the State Marketing Board by the State Government;
(c) any sums borrowed by the State Marketing Board, with the permission of the State Government;
(d) all income or moneys received by the State Marketing Board from any other source whatsoever, including income from fees or charges levied by it or donations or grants received from any local authorities, market committees or other institutions and individuals;
(e) such other sums as the State Government may, from time to time, specify.
(3) All expenditure incurred by the State Marketing Board shall, from time to time, be met out of the Development Fund and the surplus, if any, shall be invested by the State Marketing Board in public securities or shall be deposited in any scheduled bank as defined in the Reserve Bank of India Act, 1934 (II of 1934), or in a co-operative bank approved by the State Government for this purpose.