Section 31: Market Committee Fund and its Utilization

(1) There shall be established for each Committee, a fund, which shall be called Market Committee Fund to which shall be credited all moneys, received by it including all loans, raised by it, advances and grants made to it. (2) All expenditure incurred by the Committee in carrying out the purposes of this Act, shall be defrayed out of the said fund, and the surplus, if any, shall be invested in such manner, as may be prescribed. (3) Without prejudice to the generality of the provisions contained in clause (e) of section 27, the Committee may utilize its funds for payment of all or any of the following- (a) expenses, incurred in auditing the accounts of the Committee; (b) salaries and allowances including allowances for leave, gratuities, compassionate allowance, medical aid and contribution towards provident fund of the officers and employees, appointed by the market committee; (c) expenses of and incidental to elections under this Act; (d) the principal amount of or interest on loans and advances referred to in clause (xiv) of sub- section (2) of section 26; (e) the rent of and taxes on any land and building in possession of the Committee; (f) traveling allowance of the members of the Committee; (g) cost of land or buildings, acquired for the purposes of this Act; (h) cost of maintenance, development and improvement of the Market Yards; (i) expenses in providing facilities and comforts such as shelter, shed, parking accommodation and water and other amenities for persons, draught-cattle, pack animals and vehicles coming to the Market Area and on agricultural improvement and development of agricultural marketing in the Market Area, including the construction , maintenance and repair of Link Roads, Culverts, Bridges and other such purposes; (j) loans and advances to the employees of the Committee; (k) expenses for providing facilities like grading, standardization, quality certification services to the agriculturists in the Market Area; (l) expenses on research of agricultural produce processing and marketing; and (m)such other expenses, as may be prescribed by the Board or the State Government; Provided that the Marketing Committee shall spent compulsorily 2 of the annual income of Market fee according to the provisions of clause (l) of above sub-section (3). (4) Every market committee shall, out of its net income (Mandi fee + License fee) of the financial year, pay to the Board as contribution, as the State Government may, by notification, declare from time to time. (5) Every Market Committee shall have to pay every month the whole amount of the Development Fund, which it has collected, to the Board, which shall be deposited in the Kendriya Mandi Fund, as prescribed under section 62.