Amendment status not verified — confirm the current text below against the official source.
(1) 1 " The Chairman or in his absence, the Vice Chairman " shall at a special meeting to be held in the month of January each year, lay before the Board the Budget for the next financial year. (2) The Budget shall be prepared in such form as may be prescribed and shall,- (a) include the housing schemes which the Board proposes to execute in whole or in part; (b) indicate fulfillment of all the liabilities of the Board; and (c) contain a statement showing the estimated receipts and expenditure on capital and revenue accounts and such other particulars as may be prescribed. (3) The Board shall consider the Budget laid before it and approve it with or without modification.