Amendment status not verified — confirm the current text below against the official source.
(I) The Board shall by such date in each year as may be prescribed, prepare and submit to the Government for approval, the budget in the prescribed form for the next financial year to be called the Khadi and Village Industries budget showing the estimated receipt and expenditure in respect of Khadi and Village Industries during that financial year and a copy of said budget shall be forwarded to the Commission for information and remark, if any. (2) Subject to the provision of sub-section (3) and (4), no sum shall be expended by or on behalf of the Board unless such expenditure is covered by a specific provision in the budget approved by the Government. (3) The Board may, within the limits of the Khadi and Village Industries fund, sanction any re- appropriation from one head of expenditure to another or from a provision made for one scheme to another: Provided that no re-appropriation from the head "Loan" to any other head of expenditure and vice-versa shall be sanctioned by the Board except with the previous approval of the Government. (4) The Board may within such limits and subject to such conditions as may be prescribed, incur expenditure in excess of the limit provided in the budget approved by the Government under any head ,, of expenditure or in connection with any particular scheme so long as the aggregate amount in the budget approved by the Government is not exceeded. *[(5) The Government may sanction the budget submitted to it with such modification as it deems fit. (6) The Board shall not be competent to transfer such fund without the approval of the Government.] *[Inserted by 1998 amendment Act (Act no 2 of 1999).s.5.wef 9.3.1999 Supplementary budget.