Amendment status not verified — confirm the current text below against the official source.
(1) The Board shall prepare budget within a Board. period of one month froni the date of first constitution of the Board for the remaining period of the current finan- cial year and shall· submit the same to the Government for approv.al and the Government may approve the same with such modification as m~y be deemed fft oi:- without any modification. · . Power to 1upcr;cdc tho 'Boar.d. - / - (2) . For succeedin.££ financial \ year the Board shall prepare the Budget vvithin 15th day of February imme- diately preceding the commencement of the financial . year for which the Budget is to be prepared and submit to the Government for approval. (3) The Government shall approve the budget with or without modification. (4) The budget shall have effect as approved by the · Government.