Amendment status not verified — confirm the current text below against the official source.
(1) Every Zilla Parishad shall, at such time and in such manner as may be prescribed, prepare in each year a budget of its estimated receipts and disbursements for the following year and submit it to the State Government. (2) The State Government may, within such time as may be prescribed, either approve the budget or return it to the Zilla Parishad for such modifications as it may direct and on such modifications being made the budget shall be re-submitted within such time as may be prescribed for approval of the State Government. If the approval of the State Government is not received by the Zilla Parishad, within two months, or the last day of the year, whichever is earlier, the budget shall be deemed to be approved by the State Government. Zilla Parishad may raise loan and create a sinking fund. Zilla Parishad may borrow money. Budget of the Zilla Parishad. 129 (3) No expenditure shall be incurred unless the budget is approved by the State Government except in the prescribed manner.