Execution of contracts

(1) Provided that— (a) no contract involviug an expenditure of Rs. 25,00,000 or more shall be made without the previous sanction of the State Government; (b) any contract involviug the expenditure up to Rs. 20,000 may, in case of urgency, be made by the Chairman without the previous sanction of the Board but shall be referred to the Board at the earliest opportunity. (2) Sub-section (1) shall apply to every variation or abandenment of a contract as well as to an original contract.