Section 47 in The Board of Secondary Education (Madhya Pradesh) Regulations, 1965
47.
It shall be the duty of the Finance Committee.(i)to prepare and examine the budget for the ensuing financial year in such manner as to enable the Board to submit the same to Government up to 31st January;(ii)to make recommendations to the Executive Committee on all matters relating to the finances of the Board;(iii)to examine every proposal of new expenditure and to advise the Executive Committee thereon;(iv)to review the financial position of the Board periodically;(v)generally to advise means for the improvement of the financial position of the Board; and(vi)to consider applications for revision of grades of pay and the grades of pay of new appointments and advice the Executive Committee accordingly.
