Section 38(1) in The Nalanda Open University Act, 1995
(1)Notwithstanding anything contained in this Act or in Statutes, Ordinances, or Regulations made thereunder, the University shall send the budget for the ensuing financial year to the State Government at least two months before the end of the current financial year. The University shall show therein the estimates of receipts and disbursements for the ensuing year. The State Government shall return the budget with such modifications, if any, as it may deem fit, and the University shall act in conformity with such modified budget.
