Annual estimates

(1) The Chairman shall lay, not later than 10th of March every year, before the Special Area Development Authority an estimate of the income and of the expenditure of that authority for the year commencing on the first day of April next ensuing in such detail and form as that Authority may from time to time direct. (2) Such estimates shall make provision for the due fulfillment of all liabilities of the Special Area Development Authority and for the efficient implementation of this Act and shall be complete and a copy thereof shall be sent to each member of that authority at least ten clear days prior to the meeting before which the estimate is to be laid. (3) The Special Area Development Authority shall consider the estimate so submitted and shall sanction the same either unaltered or subject to such alterations as it may think fit. (4) The estimates so sanctioned shall be submitted to the State Government who may approve the same with or without modifications (5) If the State Government approves the estimates with modifications, the Special Area Development Authority shall proceed to amend the same and the estimates so modified and amended shall be in force during the year.