Section 74: Distribution of revenues

(1) Section 3 of the Union Duties of Excise (Distribution) Act, 1953 (3 of 1953) and paragraphs 3 and 5 of the Constitution (Distribution of Revenues) Order, 1953, shall, in respect of the financial year 1956-57, have effect in the modified form set out in the Fourth Schedule.

(2) There shall be charged on the Consolidated Fund of India in respect of each of the three financial years 1957-58, 1958-59 and 1959-60 as grants-in-aid of—

(a) the State of Bombay, the sum, if any, by which 8.58 per cent. of the total of the amounts payable to that State under articles 270 and 272 falls short of 248.04 lakhs of rupees;

(b) the State of Kerala, the sum, if any, by which 61.91 per cent. of the total of the amounts payable to that State under the said articles falls short of 232.38 lakhs of rupees;

(c) the State of Madras, the sum, if any, by which 2.97 per cent. of the total of the amounts payable to that State under the said articles falls short of 24.65 lakhs of rupees;

(d) the State of Mysore, the sum, if any, by which 46.75 per cent. of the total of the amounts payable to that State under the said articles falls short of 289.80 lakhs of rupees.