(1) The Managing Director of the Corporation shall, at a special meeting to be held in the month of October in each year lay before the Corporation, the budget estimates of the Corporation for the next year.
(2) Every such budget estimates shall be prepared in such form as the Government may, from time to time, by order, determine and shall, provide for,-
(i) the proposals, plans and projects which the Corporation proposes to execute either in part or in whole during the next year;
(ii) the due fulfilment of all the liabilities of the Corporation; and
(iii) the implementation of the provisions of this Act.
(3) Such estimates shall contain a Statement showing the estimated income and expenditure on capital and revenue accounts for the next year and such other Reserve and other funds.
Submission of budget to Corporation.
[Act No.1 of 1998] 21 particulars indicating the financial performance of the Corporation as the Government may direct. The budget shall clearly reveal the financial outlay and performance.
33. The Corporation shall consider the budget estimates submitted to it under section 32 and approve the same with or without modifications on or before such date as the Government may, from time to time, determine.
34. The Government may guarantee the repayment of any loans and payment of interest on all or any of the loans given or transferred to the Corporation.