For the purpose of calculating the compensation amount payable in any financial year to a local authority, the financial year ending on the 31st March 2017 shall be taken as the base year.
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Section 1 · Short title, extent and commencement.Section 2 · Definitions.Section 3 · Projected growth rate.Section 5 · Base year revenue.Section 6 · Projected revenue for first year.Section 7 · Projected revenue for any other year.Section 8 · Calculation and release of compensation.Section 9 · Amendment of Schedule.India Code, Government of India. Text fetched 19 Oct 2026. Source metadata reports last modification: 2024-05-02. Check the linked official text and subsequent notifications when applying a provision.