Powers of Board and Chairman to incur expenditure

Powers of Board and Chairman to incur expenditure on schemes and enter into contracts

Powers of Board and Chairman to incur expenditure.–– Subject to budget provision and availability of funds, expenditure may be incurred on any single work or scheme for carrying out any of the purposes of this Act––

1. (1) by the Chairman, in case such expenditure does not exceed fifteen lakh rupees; and
2. (2) by the Board, in other cases: Provided that the Board shall not, without the previous approval of the Government, incur any expenditure exceeding fifty lakh of rupees if the funds are linked to any Government Guarantee and five crore of rupees in other cases.