Limitation of borrowing powers

The Committee shall have no power to borrow money from any person except with the previous sanction of the State Government. (1) The Administrator shall prepare the budget of the Temple and its endowments for the following year and place it before the Committee which may approve it without modification or with such modification as it deems fit. After the approval of the Committee the budget shall be submitted to the State Government for sanction before such date as may be fixed by the State Government in that behalf. (2) Before sanctioning the budget, the State Government shall satisfy them that adequate provision has been made in the budget for the maintenance of the prescribed working balance and for meeting all the liabilities of the Temple and its endowments. If the budget as submitted to the State Government fails to make these provisions, the State Government may modify any part of the budget so as to ensure that such provisions are made. The decision of the State Government sanctioning the budget subject to the modifications, if any, shall be communicated to the Committee at least fifteen days in advance of the commencement of the year to which the Budget relates and in the absence of such communication before the end of the preceding financial year the budget shall be seemed to have been sanctioned in the pursuance of this section.