28. (1) The Chairperson shall place at every annual meeting a Budget estimate, in such form as may be prescribed, showing the anticipated income and expenditure of the Board during the financial year in which the annual meeting is held.
(2) The Budget estimate shall, after confirmation by the Board, be forwarded to the State Government within such time as may be prescribed.
(3) The State Government shall within one month of the receipt of the Budget Estimate, either accord its approval thereon or return it to the Board with such comments and suggestions as it may deem necessary if, in its opinion such estimate,—
(i) is not reasonable or accurate with reference to the ascertainable facts.
(ii) includes new items of recurring expenditure which are likely to impose upon the Board in the future financial liabilities which the Board is not likely to be able to meet from its income; or
(iii) includes provisions for such expenditure which are not in accordance with the provisions of this Act.
(4) If the Budget Estimate is returned under sub section (3), the Board shall consider the comments and suggestions made by the State Government and may, if it thinks fit, revise the said estimate. The Board shall then, submit the Budget estimate as so revised to the State Government or the Board shall, if it does not think fit to revise the estimate, submit it in its original form to the State Government within one month of receiving it together with its comments.
(5) If the State Government does not approve the Budget estimate as revised by the Board or if the Budget Estimate is returned by the Board without revision, the State Government may amend the Budget Estimate by making.
(i) such modifications as are, in its opinion, necessary to render the Estimate reasonably accurate with reference to ascertainable facts or to balance the income and the expenditure;
(ii) additions, alterations or modifications in any provision relating to new expenditure of a recurring nature;
(iii) any alterations or modifications in any provisions for expenditure, which in its opinion, are not in accordance with the provisions of this Act; and shall forward the Budget estimate as so amended to the Board, and the Budget estimate so returned shall be the Budget Estimate of the Board for the relevant financial year.
(6) If the State Government does not accord its approval to the Budget Estimate referred to in sub section (5) such Estimate shall within three months of receipt thereof by the State Government for such approval or within two month of re-submission thereof by the Board with or without revision, be deemed to have been approved by the State Government.