(1) The Registrar shall cause to be prepared in such form as may be prescribed, by regulations, a budget for the financial year, showing the estimated receipts and expenditure and shall cause it to be laid before the Council at such time, in such manner, as may be prescribed by regulations.
(2) Within fifteen days from the date of meeting in which the budget is passed, it shall be forwarded to the State Government.
(3) If the State government is of the opinion that provisions of the budget so forwarded to it are not adequate for carrying out the purposes of this Act, it shall return the budget to the Council for such modification as may be suggested by the State Government.
(4) The Council shall be competent to re-appropriate such amount as may be necessary from one head to another head and minor heads.
(5) The Council, may as and when required, pass a supplementary budget in such form as may be prescribed by regulations and the provisions of sub-sections (2), (3) and (4) shall apply to such supplementary budget.