21. Grants by Central Government to the Foundation.—For the purpose of enabling the
Foundation 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 Foundation in each financial year, such
sums of money, on such terms and conditions as that Government may determine, by way of grant, loan or
otherwise.
22. Fund of the Foundation.—(1) The Foundation shall have its own Fund; and all sums which may,
from time to time, be paid to it by the Central Government and all receipts of the Foundation (including
any sum to which the State Government or any other authority or person may pay to the Foundation) shall
be credited to the Fund and all payments by the Foundation shall be made therefrom.
(2) All moneys belonging to the Fund shall be deposited in such banks or invested in such manner as
may, subject to the approval of the Central Government, be decided by the Governing Board.
(3) The Foundation may spend such sums as it may think fit for performing its functions under this
Act, and such sums shall be treated as expenditure payable out of the Fund of the Foundation.
23. Budget.—The Foundation shall prepare, in such form and at such time each year, as may be
prescribed, the budget in respect of the financial year next ensuring showing the estimated receipts and
expenditure, and copies thereof shall be forwarded to the Central Government.
24. Accounts and audit of the Foundation.—(1) The Foundation 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 approved by the Comptroller and Auditor-General of India.
(2) The accounts of the Foundation shall be audited by the Comptroller and Auditor-General of India
and any expenditure incurred by him in connection with such audit shall be payable by the Foundation 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 Foundation 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 the 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
Foundation.
(4) The accounts of the Foundation as certified by the Comptroller and Auditor-General of India or
any 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.
25. Duty to furnish returns, annual reports, etc.—(1) The Foundation shall furnish to the Central
Government at such time and in such form and in such manner, as may be prescribed, or as the Central
Government may direct, such returns and statements and such particulars in regard to any proposed or
existing programme for the promotion and development of the objects of the Foundation, as the Central
Government may, from time to time, direct.
(2) Without prejudice to the provisions of sub-section (1), the Foundation shall, as soon as possible
after the end of each financial year, submit to the Central Government an annual report in such form and
before such date as may be prescribed, giving a true and full account of its activities and programmes
during the previous year.
9
(3) A copy of the report received under sub-section (2) shall be laid, as soon as may be, after it is
received, before each House of Parliament.