Section 25(1) in Indira Kala Sangit Vishwavidyalaya Act, 1956
(1)The Vitta Samiti shall deal with the finances of the Vishwavidyalaya and shall have the following powers :(a)to examine accounts and proposals for expenditure;(b)to comment on the annual accounts and the financial estimates of the Vishwavidyalaya;(c)to fix limits for the total recurring expenditure for the year, based on the resources of the Vishwavidyalaya which in the case of productive works, may include the proceeds of loans. No expenditure shall be incurred by the Vishwavidyalaya in excess of the limit so fixed without the previous approval of the Vitta Samiti.
