Financial estimates

(1)

1. (a) During the period of stabilization of the University, the State Government shall prescribe the date by which and the manner in which the University shall prepare the annual financial estimates of receipts and expenditure of the University.
2. (b) The Executive Council shall consider the estimates so prepared and approve them, with or without modifications and submit them, as approved by it, to the State Government for its sanction.
3. (c) The State Government may pass such orders with reference to the said estimates as it thinks fit and communicate the same to the University which shall give effect to such orders. (2)
4. (a) After the period of stabilization of the University is over, the Vice-Chancellor shall cause to be prepared by the Comptroller of the University on or before such date as may be prescribed the annual financial estimates for the ensuing year and submit them to the Executive Council and to the Court for consideration and suggestions, if any.
5. (b) The Executive Council may consider the suggestions made by the Court and approve the said estimates, with or without modifications.