Section 26 of The Airports Authority of India Act, 1994
- (1)The Authority shall, before the commencement of each financial year, prepare a statement of the programme of its activities during the forthcoming financial year as well as financial estimate in respect thereof.
- (2)The statement prepared under sub-section (1) shall, not less than three months before the commencement of each financial year, be submitted for approval to the Central Government.
- (3)The statement and the financial estimates of the Authority may, with the approval of the Central Government, be revised by the Authority.
Summary
- Before a new financial year begins, the Authority must write a statement outlining its planned activities and estimated budget for the upcoming year.
- This plan and financial estimate must be submitted to the Central Government for approval.
- The deadline to submit this document is at least three months before the new financial year starts.
- If circumstances change, the Authority is allowed to revise its plans and budget, but only if the Central Government approves the changes.
Practical examples
FAQ
1. Does the Authority have to plan its activities and budget in advance?
Yes, it must prepare a statement of its planned activities and a financial estimate before each financial year begins.
2. Who has to approve the Authority's yearly plan and budget?
The Central Government must approve the plan.
3. What is the exact deadline for submitting the plan to the Government?
The plan must be submitted at least three months before the start of each financial year.
4. Can the Authority alter its budget later if prices go up?
Yes, it can revise the statement and estimates, but it requires the approval of the Central Government.
Test yourself
Q1.Under Section 26 of The Airports Authority of India Act, 1994, what is the deadline for the Authority to submit its programme of activities to the Central Government?
Q2.According to Section 26 of The Airports Authority of India Act, 1994, what must be included in the annual statement submitted to the Central Government?
Q3.Under Section 26 of The Airports Authority of India Act, 1994, can the Authority revise its financial estimates after they are submitted?
Q4.Section 26 of The Airports Authority of India Act, 1994 requires the Authority to estimate its finances for the coming year. If the Authority plans to borrow money to meet these estimates, how does Section 27 restrict this borrowing?