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 to it by the Central Government;
(b) such sums of money as the State Government may pay annually for specified purposes;
(c) all fees and other charges levied by it 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 money 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 sum as may be specified by regulations made under this Act,
shall be kept in current account with any nationalised bank, or any other scheduled or 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 generally or specially approved by the Central Government.
Explanation.—In this sub-section,—
(a) “nationalised bank” means a corresponding new bank as defined in the Banking Companies
(Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970);
(b) “scheduled bank” means a bank included for the time being in the Second Schedule to the
Reserve Bank of India Act, 1934 (2 of 1934).
20. Budget.—(1) The Board shall, by such date in each financial 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
that Government, showing therein the estimated receipts and expenditure, and the sums which would be
required from the Central Government during that financial year.
(2) The budget for a financial year, as approved by the Central Government for any financial year,
shall be the budget of the library for that financial year.
(3) If any sum granted by the Central Government to the library for any financial year remains wholly
or partly unspent in that 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 for by the Central Government for that year.
(4) Subject to the provisions of sub-section (5), no sum shall be expended by or on behalf of the
Board, unless the expenditure is covered by provision in the budget proved by the Central Government.
(5) Subject to such conditions and restrictions as the Central Government may think fit to impose, the
Board may sanction any re-appropriation from one head of expenditure to another or from a provision
made for one purpose to that for another purpose.
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, in accordance with such general directions as may be issued by the Central Government in
consultation with the Comptroller and Auditor-General of India.
8
(2) The accounts of the Board shall be audited annually by the Comptroller and Auditor-General of
India or any officer authorised by him in this behalf, 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 Controller and Auditor-General of India and any person authorised 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 authorised by him in this behalf, together with the audit report thereon, shall be forwarded
annually to the Central Government and that Government shall, as soon as may be after the receipt
thereof, cause the same to be laid before each House 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 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.