The Government may, after due appropriation made by the State Legislature by law in this behalf made such grants, subventions, loans and advances to the Corporation as it may deem necessary for the performance of the functions of the Corporation under this Act and all grants, subventions, loans and advances made shall be on such terms and conditions as the Government may determine.
33. Power of Corporation to borrow - (1) The Corporation may, subject to such conditions as may be prescribed in this behalf, borrow money from the financial institutions or Commercial Banks or non-resident Indians or from the open market by issue of guaranteed or unguaranteed bonds, debentures stocks or otherwise, for the purpose of providing itself with adequate resources.
(2) The maximum amount which the Corporation may at any time have on loan under sub-section (1) shall not exceed rupees one thousand crores, unless the Government fixes a higher maximum limit for this purpose.
(3) The Corporation may approach any financial Institution or Commercial Bank for guaranteeing repayment of loans borrowed and payment of interest thereon on payment of guarantee Commission.
(4) The Corporation may also accept contributions and donations from any individual including a non-resident Indian, or corporate body or trust, or multilateral agency for the purpose of undertaking projects or schemes notified under section 35 AC of the Income Tax Act, 1961(Central Act 43 of 1961):
Provided that acceptance of any contribution or donation from a Non- 14 resident Indian shall with the prior permission of the concerned authority under any law for the time being in force.
34. Acceptance of deposits by Corporation - The Corporation may accept deposits on such conditions as it deems fit from persons, Authorities or Institutions, to whom, allotment or lease or sale of land or buildings or other properties or rights is made or is likely to be made in furtherance of the objects of this Act.
35.Power to spend - The Corporation shall have the authority to spend such sums as it thinks fit for the purposes authorised under this Act from and out of the fund of the Corporation referred to in section 30 or from the reserve and other funds referred to in section 37, as the case may be.
36. Expenditure on objects other than those stated in section 17 - It shall be competent for the Corporation to spend such sums as it thinks fit also on objects authorised under this Act other than projects and schemes referred to in section 17 and such sums shall be treated as common expenditure payable out of the funds of the Corporation.
37.Reserve and other funds - (1) The Corporation shall make provisions for such reserve and other specially denominated funds as the Government may, from time to time direct.
(2) The management of the funds referred to in sub-section (1), the sums to be transferred, from time to time, to the credit thereof and the application of money comprised therein, shall subject to the directions, if any, issued by the Government in this behalf, be determined by the Corporation.
(3) None of the funds referred to in sub-section (1) shall, except with the previous approval of the Government, be utilised for any purposes other than that for which it is constituted.
38. Submission of budget to Corporation - (1) The Managing Director of the Corporation shall, at a special meeting to be held in the month of October in each year, lay before the Corporation, the budget estimates of the Corporation for the next year.
(2) Every such budget estimates shall be prepared in such form as the Government may from time to time, by order, determine and shall provide for,-
(i) the proposals, plans and projects which the Corporation proposes to execute either in part or in whole during the next year;
(ii) the due fulfillment of all the liabilities of the Corporation; and
(iii) the implementation of the provisions of this Act, such estimates shall contain a statement showing the estimated income and expenditure on capital and revenue accounts for the next year and such other particulars, indicating the financial performance of the Corporation, as the Government may direct. The budget shall clearly reveal the financial outlay and performance.
39. Sanction of budget estimates - The Corporation shall consider the budget estimates submitted to it under section 38 and approve the same with or without modifications on or before such dates as the Government may, from time to time determine.
40. Government as Guarantor - The Government may guarantee the repayment of any loans and payment of interest on all or any of the loans given or transferred to the Corporation.
41. Disposal of profits and deficits - (1) Subject to the provisions of subsection (2) of section 43 of this Act, the net profit, if any, attributable to each of the main objects, like water supply, sanitation or sewerage, shall be fully credited to the Corporation.
(2) The net deficit, if any, in respect of any of the objects shall be solely borne by the Government.
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42. Interest, charges and other expenses to be added to and receipts taken for reduction of capital cost - The interest, charges and all other expenditure shall be added to the capital cost and all receipts shall be taken in reduction of such cost, if the Corporation is in deficit.
43. Depreciation Fund - (1) The Corporation may make provision for depreciation fund at such rates and on such terms as may be specified by the Comptroller and Auditor General of India, and in consultation with the Government.
(2) The net profit for the purpose of section 41 shall be determined after such provision has been made.