18. Grants by Central Government to Board.—For the purpose of enabling the Board to discharge
its functions efficiently under this Act, the Central Government may, after due appropriation made by
Parliament by law in this behalf, pay to the Board in each financial year such sums of money as that
Government considers necessary by way of grant, loan or otherwise.
19. Fund of Board.—(1) The Board shall maintain a Fund to which shall be credited—
(a) all moneys paid by the Central Government;
(b) such sums of money as the State Government may pay annually having regard to its resolution
No. V/L 4055/60E 120, dated the 26th September, 1962;
(c) all fees and other charges levied under this Act;
(d) all moneys received by the Board by way of grant, gift, donation, benefaction, bequest,
subscription, contribution or transfer;
(e) all other moneys received by the Board in any other manner or from any other source.
(2) The Board may expend such sums as it thinks fit for performing its functions under this Act and
such sums shall be treated as expenditure payable out of the Fund.
(3) A sum of money not exceeding such amount as may be provided by regulations made under this
Act may be kept in current account with any scheduled bank as defined in section 2 of the Reserve Bank
of India Act, 1934 (2 of 1934), or any other bank approved by the Central Government in this behalf, but
any moneys in excess of that sum shall be deposited in the Reserve Bank of India or with the agents of the
Reserve Bank of India or invested in such manner as may be approved by the Central Government.
20. Budget.—(1) The Board shall, by such date in each year as may be specified by the Central
Government, submit to it for approval a budget for the next financial year in the form specified by it,
showing the estimated receipts and expenditure, and the sums which would be required from the Central
Government during that financial year.
(2) If any sum granted by the Central Government remains wholly or partly unspent in any financial
year, the unspent sum may be carried forward to the next financial year and taken into account in
determining the sum to be provided by the Central Government for that year.
(3) Subject to the provisions of sub-section (4), no sum shall be expended by or on behalf of the
Board, unless the expenditure is covered by provision in the budget approved by the Central Government.
(4) Subject to such conditions and restrictions as the Central Government may think fit to impose, the
Board may sanction any reappropriation from one head of expenditure to another or from a provision
made for one purpose to that for another purpose.
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21. Accounts and audit.—(1) The Board shall maintain proper accounts and other relevant records
and prepare an annual statement of accounts including the balance-sheet in such form as may be
specified, and in accordance with such general directions as may be issued by the Central Government in
consultation with the Comptroller and Auditor-General of India.
(2) The accounts of the Board shall be audited annually by the Comptroller and Auditor-General of
India and any expenditure incurred by him in connection with such audit shall be payable by the Board to
the Comptroller and Auditor-General of India.
(3) The Comptroller and Auditor-General of India and any person appointed by him in connection
with the audit of the accounts of the Board shall have the same rights, privileges and authority in
connection with such audit as the Comptroller and Auditor-General of India has in connection with the
audit of Government accounts, and, in particular, shall have the right to demand the production of books,
accounts, connected vouchers and other documents and papers and to inspect the office of the Board, and
the library.
(4) The accounts of the Board as certified by the Comptroller and Auditor-General of India or any
other person appointed by him in this behalf, together with the audit report thereon, shall be forwarded
annually to the Central Government and that Government shall cause the same to be laid before each
House of Parliament.
22. Returns and reports.—(1) The Board shall furnish to the Central Government at such time and
in such form and in such manner as the Central Government may direct such returns, statements and
particulars as the Central Government may, from time to time, require.
(2) Without prejudice to the provisions of sub-section (1) the Board shall, as soon as possible after the
commencement of each financial year, submit to the Central Government within such time as may be
specified by the Central Government a report giving true and full account of the activities of the Board
during the previous financial year and an account of activities likely to be undertaken during the current
financial year.