Prescribed Budget

General202326 sections

Statutory text

(1) The Board shall prepare in such manner as may be by regulations, the budget for the ensuing financial year and forward it to the State Government for its sanction not later than the thirty-first day of January preceding such financial year and the State Government may pass such orders with reference thereto as it thinks fit and shall communicate the same to the Board by the thirty-first day of March preceding such financial year and the Board shall give effect to such orders: Provided that if no sanction is communicated to the Board by the thirty-first day of March referred to above, the budget shall be deemed to have been sanctioned by the State Government without any modification.
(2) The Board may if it considers it necessary so to do, prepare a supplementary budget during any financial year for such year and submit it to the State Government for its sanction not later than the thirty-first day of October in the said financial year and the State Government may pass such orders with reference thereto as it thinks fit and shall communicate the same to the Board by the thirtieth day of November of the said financial year and the Board shall give effect to such orders:

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