(1) The Central Government may, after due appropriation made by Parliament by law, in this behalf, make to the Board grants and loans of such sums of money as that Government may consider necessary.
     (2) There shall be constituted a fund to be called the Jute Board Fund and there shall be credited thereto--
         (a) any grants and loans made to the Board by the Central Government;
         (b) all sums received by the Board from such other sources as may be decided upon by the Central Government.
     (3) The Fund shall be applied for meeting--
         (a) salary, allowances and other remuneration of the members, officers and other employees of the Board;
         (b) expenses of the Board in the discharge of its functions; and
         (c) expenses on objects and for purposes authorised by this Act.