Section 45. Preparation of annual budget estimate.

(1) The Board shall prepare, before such date and in such manner as may be prescribed by regulations, the budget estimates of the income and expenditure of the Board for the next financial year. (2) The Board shall on or after the date referred to in sub-section (1), consider the budget estimates prepared by it and submit them as approved by it to the Government, for the sanction. The Government may pass such orders with reference to the budget estimated as it thinks fit, and communicate the same to the Board. The Board shall give effect to such order. (3) The Financial year of the Board shall be the same as that of the State Government.