(1) The Member Secretary shall at a special meeting of the Board to be held not later than first week of February every year, lay before the Board for its approval, an estimate to the income and expenditure of the Board for the next financial year. The estimates of income and expenditure of the Board for every financial year shall consist of two separate parts, namely:-
(a) the expenditure to be incurred in respect of schemes and developmental activities finalized by the Board for its approval.
(b) the amounts of grants/loans/advances to be obtained shall be submitted to the State Government for approval on or before the first day of October of the previous year.
(2) The estimates approved by the Board in respect of Part (a) and by the Government in respect of Part (b) shall form the estimates of income and expenditure of the Board for the prospective financial year and shall be presented before the Board by the Member Secretary.
(3) Every such estimate shall make provision for the due fulfillment of all the liabilities of the Board and for the efficient administration of the Act.
(4) The estimates of income and expenditure of the Board shall be submitted to the Government for its approval.
(5) The Board may re-appropriate any amount under the head of account to another without prior approval of the State Government.