Section 21 of The Indian Institutes of Information Technology (Public-private Partnership) Act, 2017
The Finance Committee shall examine the accounts, scrutinise proposals for expenditure and financial estimates of the Institute and thereafter submit it to the Board together with its comments for approval.
Summary
- The Finance Committee is responsible for examining the Institute's accounts.
- It scrutinises all proposals for spending money and reviews financial estimates.
- After reviewing these financial matters, the committee submits them to the Board of Governors.
- The committee adds its comments to these proposals so the Board can make a final decision on approval.
Practical examples
FAQ
1. Does the Finance Committee have the final say on spending money?
No, it scrutinises proposals for expenditure and submits them to the Board of Governors for final approval.
2. What does the committee do with the Institute's accounts?
The Finance Committee has the specific duty to examine the accounts of the Institute.
3. Can the committee reject a proposal outright?
While they scrutinise estimates, the text specifies they must submit the proposals "together with its comments for approval" to the Board, making the Board the ultimate authority.
Test yourself
Q1.Under Section 21 of The Indian Institutes of Information Technology (Public-private Partnership) Act, 2017, what is the final step the Finance Committee must take after scrutinising financial estimates?
Q2.Under Section 21 of The Indian Institutes of Information Technology (Public-private Partnership) Act, 2017, which body is explicitly granted the power to give final approval for expenditure proposals scrutinised by the Finance Committee?
Q3.Under Section 21 of The Indian Institutes of Information Technology (Public-private Partnership) Act, 2017, which of the following is an explicit function of the Finance Committee?
Q4.Under Section 21 of The Indian Institutes of Information Technology (Public-private Partnership) Act, 2017, combined with Section 20, who leads the body that scrutinises proposals for expenditure?