Section 12(h) in Powerloom Registration Funds Rules, 1992
(h)The Board shall prepare every year budget for the year. The members of the Board and the Committee so constituted is responsible to the Board in respect of matters entrusted to it, and furnish a report of the work already done during the course of the year to the State Government as also the annual statement of Accounts duly audited in accordance with rule 5;
