Preparation and sanction of Budget

Every Market Committee shall prepare and pass the budget of its income and expenditure for the preparation and ensuing year in the prescribed form and shall submit sanction of it to the Director/Managing Director for sanction budget. Before the prescribed date every year. The Director/Managing Director shall sanction the budget with or without modification within two months from die date of receipt thereof. If the budget is not returned by the Director/Managing Director within two months, it shall be presumed to have been sanctioned.