32. Grants by Central Government.—For the purpose of enabling the Institutes to discharge their
functions efficiently under this Act, the Central Government may, after due appropriation made by
Parliament by law in this behalf, pay to each of the Institute in each financial year such sums of money
and in such manner as it may think fit.
33. Fund of Institutes.—(1) Each Institute shall maintain a Fund to which shall be credited,—
(a) all moneys provided by the Central Government;
(b) all fees and other charges received by the Institute;
(c) all moneys received by the Institute by way of grants, gifts, donations, benefactions, bequests
or transfers; and
(d) all moneys received by the Institute in any other manner or from any other source.
(2) All moneys credited to the Fund of each Institute shall be deposited in such banks or invested in
such manner as the Institute may, with the approval of the Board, decide.
(3) The Fund of each Institute shall be applied towards meeting the expenses of the Institute including
expenses incurred in the exercise of its powers and discharge of its functions under this Act.
34. Accounts and audit.—(1) Each Institute shall maintain proper accounts and other relevant
records and prepare an annual statement of accounts including the balance sheet in such form and manner
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as may be prescribed by the Central Government in consultation with the Comptroller and AuditorGeneral of India.
(2) The accounts of each Institute 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 Institute 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 any Institute 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 offices of the
Institute.
(4) The accounts of each Institute 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 in accordance with such procedure as may be laid down by the Central Government.
35. Pension, insurance and provident funds.—(1) Each Institute shall constitute for the benefit of
its employees, including the Director, in such manner and subject to such conditions as may be specified
by the Statutes, such pension, insurance and provident funds as it may deem fit.
(2) Where the provident fund referred to in sub-section (1) has been constituted, the Central
Government may declare that the provision of the Provident Funds Act, 1925 (19 of 1925) shall apply to
such fund as if it were a Government Provident Fund.