Section 60. Funds and finances of the Regional Development Authority

(1) Subject to the provisions of this Act, a Regional Development Authority may create such funds for such purposes as it may determine from time to time, to which, shall be credited all moneys received by it, including, - (a) contribution to be made by the State Government in the first instance of a sum equivalent to rupees five crore towards a revolving fund to be established by every Regional Development Authority under this Act; (b) all moneys received from the Central Government, State Government, or any other person by way of grants, donations, loans, advances or otherwise; (c) all fees and user charges received by the Regional Development Authority under this Act; and (d) all moneys received by the Regional Development Authority towards lease, premium or cost of land and/or building. (2) The fund shall be applied towards meeting the expenses incurred by the Regional Development Authority in performing its functions and for administration of the provisions of this Act.