(1) The Authority shall prepare every year, before such date and in such form as may be prescribed, a budget estimate of its income & expenditure for the financial year to commence on the first day of April and shall forward it to the Government for sanction. The authority may also prepare supplementary budget estimates, during the course of any financial year, if necessary.
(2) The Government shall approve the budget estimates and supplementary budget estimates with or without modification.
(3) In cases of extreme urgency, the Members Secretary shall be competent to incur expenditure not exceeding 5 lakhs of rupees in a financial year, notwithstanding the fact that such expenditure has not been included in the annual or supplementary budget estimates approved by the Government under sub-section(2).
(4) The Member Secretary shall also have power to re-appropriate funds from one unit of expenditure to another unit, subject to a maximum of rupees one lakh at a time.