Section 22 in Karnataka Industrial Areas Development Act, 1966
22. Budget and programme of work.
(1)The Board shall, by the last day of January each year prepare and submit to the State Government for approval an annual financial statement and programme of work for the succeeding financial year.(2)The annual financial statement shall show the estimated receipts and expenditure during the succeeding financial year in such form and detail as may be prescribed.(3)If the approval of the State Government to the annual financial statement and the programme of work has not been received before the last day of March, the Board may proceed as if the annual financial statement and the programme of work have been approved.(4)The Board shall be competent to make variations in the programme of work and re-appropriations in the budget in the course of the year provided that all such variations and re-appropriations out of the approved budget are submitted for approval to the State Government.(5)The State Government may by an order extend the last date prescribed in sub-section (1) for the submission of the annual financial statement and the programme of work.
