Section 71(1) in The Manipur Municipalities Act,1994.
(1)A Nagar Panchayat or a Council at a meeting specially convened for the purpose, two months before the close of the financial year, shall prepare in such form and manner as may be prescribed, a budget showing inter alia the probable receipts and expenditure during' the ensuing year and after such revision as may appear requisite it shall pass the budget and such budget shall be submitted to the Director for obtaining approval of the State Government:Provided that if the approval is not intimated within one month .from the date of the receipt of the budget by the State Government or the receipt of such other information as is called for by the State Government, it shall be taken that the budget is approved.
