(1) Every year the Board shall, on or before the prescribed date, hold a meeting at which the Standing Committee shall submit budget estimates of the income and expenditure of the Board for the coming year, including proposals for spending the portion of the accumulated balances previously sanctioned by the Government under sub-section (2) of section 132.
(2) The Board shall consider the estimates and may approve of them with or without modification:
Provided that no estimates shall be approved unless they provide for the Board having at its credit at the end of the year a balance of five per cent, of the aggregate income for that year.
(3) The Board shall forward its estimates as finally approved by it to the Government through the Collector for approval.
(4) The Government before approving the estimates may make such changes therein as it considers necessary in order that the estimates may comply with the requirements of this Act or the rules thereunder or any other law for the time being in force.
Standing Committee and Budget Estimates.
74 [Act No.I of 1956]
(5) If the Government considers other changes desirable, whether by way of omitting, increasing or reducing any provision or of inserting a provision for income or expenditure not appearing in the estimates as submitted by the Board, it shall be bound before effecting such changes to refer the estimates back to the Board for its opinion and shall give due consideration to any opinion received from the Board within one month from the despatch of the reference to the Board.
(6) On receipt of the Board’s opinion, or on the expiry of one month as aforesaid without any reply from the Board, the Government may modify the estimates by adopting in whole or in part the changes suggested by it to the Board and approve the estimates thus changed.
131. Notwithstanding anything contained in section 130 Government may by notification in the Official Gazzette declare that the budget estimates of a Board shall not be subject to approval of Government.