Annual financial statement on higher education and research

(1) The Council shall, in respect of each financial year, provide to the Government a statement of the estimated expenditure on development of higher educationand research for that year, referred to as the “anhualfinancial statement on higher education and research” comprising the “annualfinancial support plan for higher education” andthe “annualfinancial'supportplan for research”for that year.\n(2) The estimates of expenditure on developmentof higher education and research under sub-section (1) shall be based on norms, Principles and criteria as may be specified by the Government, from time to time.\n(3) The Council shall provide that part of the estimated expenditure planned to be appropriated towards research, along with an explanatory memorandum on the research programmesproposedto be funded and an assessmentof the productivity of research programmesfundedin the pastfive years.\n(4) The assessmentof the productivity of research programmes under sub-section (3) shall be based on norms as may be specified by the Government, from time to time.\n(5) The Government shail cause the annual report on higher education and research, with such modifications as it may recommend,to be laid before the State Legislature.