Section 30 in Oil Industry (Development) Rules, 1975
30. Budget Estimates.
(1)The Board shall in each year, the year being of 12 months from April to March, prepare a budget for Oil Industry Development Fund for the ensuing year and discuss it in a meeting of the Board as an item of the agenda and shall thereafter submit it for approval of the Central Government on or before such date as may be appointed by that Government.(2)No expenditure shall be incurred until budget is approved by the Central Government.(3)The budget shall be prepared in accordance with such instructions as may be issued from time to time and be in such from as the Central Government may direct and shall include a statement of.(i)the estimated opening balance;(ii)the estimated receipts referred to in sub-section (1) of section 18 and from other sources; and(iii)the estimated expenditure classified under heads and sub-heads as specified in schedule 1 to these rules.(iv)estimated closing balance;(4)Supplementary estimates of expenditure, if any, shall be submitted for the approval of the Central Government in such from and on such dates as may be directed by it in this behalf.
