Section 31. Submission of budget to Authority.

(1) The Chief Executive Officer of the Authority shall, at a special meeting to be held in the month of February in each year, lay before the Authority, the budget estimates of the Authority for the next year. (2) Every such budget estimates shall be prepared in such form as the State Government may, from to time, by order, determine and shall provide for,- (i) the proposals, plans and projects, which the Authority proposes to execute either in part or in the whole during the next year; (ii) the due fulfilment of all the liabilities of the Authority; and (iii) the implementation of the provisions of this Act; and such estimates shall contain a Statement showing the estimated income and expenditure on capital and revenue accounts for the next year and such other particulars indicating the financial performance of the Authority as the State Government may direct. The budget shall clearly reveal the financial outlay and performance.