Amendment status not verified — confirm the current text below against the official source.
Power of Standing Committee to reduce or transfer budget grants.— (1) The Standing Committee may, from time to time during the financial year, reduce or transfer the amount or a portion of the amount of one budget grant to the amount of any other budget grant under the same major head in the budget estimates: Provided that— (a) due regard shall be had when making any such reduction or transfer to all the requirements of this Act; and (b) every such reduction or transfer shall be brought to the notice of the Corporation at its next meeting. (2) If any such reduction or transfer is of an amount exceeding fifty thousand rupees, the Corporation may pass with regard thereto such order as it thinks fit, and it shall be incumbent on the Standing Committee and the Commissioner to give effect to the said order.