Annual Budget

(1) The Chairman shall, by 10th March at the latest, every year, submit to the Special Area Development Authority an estimate of the income and expenditure of that Authority for the year commencing on the first day of the ensuing April, in such detail and such form as that Authority may direct from time to time. (2) Such estimate shall make provision for the due fulfillment of all the liabilities of the Special Area Development Authority and for the efficient implementation of this Act, and such estimate shall be complete and a copy thereof shall be sent to every member of that Authority at least ten days before the meeting at which the estimate is to be placed. (3) The Special Area Development Authority shall consider the estimate so presented and shall approve it either in its original form or subject to such modifications as it may deem proper. (4) The budget so approved shall be sent to the State Government which may approve it with or without modifications. (5) If the State Government approves the budget with modifications, the Special Area Development Authority shall take action to amend it, and the budget so modified and amended shall be in force during that year.