127. (1) A Paurashava may, and if so required by the Government shall, prepare and implement development plans for such periods and in such manner as may be specified.
(2) Such plans shall be subject to the sanction of the Prescribed Authority and shall provide for-
(a) the prevention of environmental pollution;
(b) the promotion, improvement and development of such function or functions of the Paurashava as may be specified;
(c) the manner in which the plan shall be financed, executed, implemented and supervised;
(d) the agency through which the plan shall be executed and implemented; and
(e) such other matters as may be necessary.
(3) The Government may direct that any specified item of income of a Paurashava shall wholly or in part be earmarked and applied in the implementation of a development plan.