Placing of Budget before the Board

(1) The Chairman shall, at a special meeting to be held in the month of January each year, lay before the Board the Budget of the Board for the next financial year. (2) The Budget shall be prepared in such form as may be prescribed and shall :- (a) include the housing scheme which the Board proposes to execute in whole or in part. (b) indicate full details of all the liabilities of the Board; and (c) contain a Statement snowing the estimated receipts and expenditure on capital and revenue accounts and such other particulars as may be prescribed. (3) The Board shall consider the Budget laid before it and approve it with or without modification.