Amendment status not verified — confirm the current text below against the official source.
Budget of the Authority.- (1) The Authority shall, by such date in each year, as may be prescribed, prepare and submit to the State Government for the next financial year, showing the estimated receipts and expenditure of the Authority during that financial year in such form as may be prescribed. (2) The budget prepared by the Authority, in so far as it does not require any revenue contribution from the State Government, shall be final and shall be adopted by the Authority without the need for any prior approval of the State Government. However, the budget prepared by the Authority, to the extent that it requires any revenue contribution from the State Government, shall be subject to the final approval from the State Government and shall be subject to such change or terms and conditions as the State Government may propose in this regard.