(1)The Chief Executive Officer shall in every year prepare in Form 34, a budget in respect of the ensuing financial year, showing the estimated receipts and expenditure during that financial year and place before the Board by 31st December.(2)The Board shall scrutinise the budget proposal and make suitable modification, if necessary, and forward a copy of the same to the Government before 31st January.(3)On receipt of the budget forwarded to it, the Government shall examine the same and suggest such alterations, corrections or modifications, to be made therein as it may think fit and forward such suggestions to the Board for its consideration.(4)On receipt of the suggestions from the Government, if the Board does not agree with any modifications, corrections or alterations made by the Government in the Budget, the Board may forthwith make written representation to the Government with regard to the alterations, corrections or modifications suggested by the Government.(5)The Government shall consider the representation of the Board and pass final orders in the matter and communicate its decision within a period of three weeks from the date of receipt of such representation.(6)On receipt of the suggestions from the Government and if no representation has been made by the Board to such suggestions or the Government has communicated its decision regarding any representation, if any, made by the Board, the Board shall incorporate in its budget all the alterations, corrections, modifications finally suggested by the Government and the budget so altered corrected or modified, shall be passed by the Board.(7)A copy of the budget so passed shall be forwarded to the Government and in case no objection is received from the Government within fifteen days, the budget shall be declared to be final.(8)If, in the course of the year, the Board finds it necessary to alter the figures shown in the budget with regard to the receipts or the distribution of the amounts to be expended on the different services undertaken by the Board, a supplemental or revised budget may be framed and got sanctioned in the manner provided in these rules and copies thereof forwarded to the Government.(9)No sum shall be expended by the Board unless such sum is included in the budget estimates sanctioned under Section 78 of the Act and in force at the time of incurring the expenditure.
