(1) The Minister of Finance of the Government of Nepal shall submit the estimate of revenue and expenditure for the next fiscal year to the joint meeting of both houses of the Federal Parliament every year in accordance with the Constitution.
(2) The finance minister of the province shall submit the estimate of revenue and expenditure for the next financial year to the provincial assembly within the first day of the month of June every year.
(3) The village executive and the city executive shall submit the revenue and expenditure estimates for the next fiscal year to the respective village or city assembly within the tenth day of the month of Asar every year.
(4) The provincial and local levels shall submit an estimate of revenue and expenditure in such a way that administrative expenses are reached from the revenue raised by them and the amount received from revenue distribution in accordance with this Act.
(5) The estimate of revenue and expenditure to be submitted in accordance with this section shall be in accordance with the criteria set out in section 38.