(1) The Council shall have prepared annually on or before such date, and in such form and manner, as may be prescribed by rules in this behalf a budget estimate of its income and expenditure for the next year.
(2) The Council shall as soon as may be after the said date consider the budget estimate so prepared and approve the same with or without modifications as it thinks fit.
(3) The Council may, if necessary at any time during the year for which a budget estimate has been approved, cause a revised or supplementary budget estimate to be prepared and shall consider it and get it approved in the same manner as if it were an original annual budget estimate.
(4) Re-appropriation of funds in a budget estimate may be made from time to time subject to the same approval as is required for the budget estimate.
32. A copy of every budget estimate and a statement of every reappropriation as finally approved under section 31 shall be forwarded by the Council without delay to the State Government. A copy of the annual budget estimate shall be so forwarded not later than the 18th February every year.