Amendment status not verified — confirm the current text below against the official source.
Budget – 2 [(1) The Executive Officer shall, in each financial year, (hereinafter referred to as the said year) not later than the 15th January of the said year, frame and place before the committee, the Budget showing the probable receipts and expenditure during the following financial year, and the committee shall, within fifteen days of the date on which the budget is placed before it, place it before the board at a special meeting convened for the purpose for its approval, and the Board shall approve the same, with or without modifications, at such meeting and forward sufficient number of copies of such budget to the government before the end of February of the said year;] (2) The Government may sanction the budget with such modifications, if any, as they may deem fit. (3) If, for any reason, the budget is not sanctioned by the Government before the end of March of the said year, the 3[Committee] shall be competent to incur for each of the months of April and May of the following financial year an expenditure equivalent to one-twelfth of the expenditure provided under each head, for the said year. (4) The 1[Committee] shall be competent to reappropriate such amount, as may be necessary, from one head of account to another head of account,