State Act

The Mumbai Municipal Corporation Act.

7[126. Budget estimates to be prepared by the 8[Standing Committee].— (1) The 9[Standing Committee] shall, on or as soon as may be after each] 10[fifth day of February] consider the estimates and proposal of the 11[Commissioner] and after having obtained from the 12[Commissioner] such further detailed information, if any as they shall think fit to require, and having regard to all the requirements of this Act, shall frame therefrom subject to such modifications and additions therein or thereto as they shall think fit, 1[two budget estimates] as follows:— 2[(a) Budget Estimate “A”— of the income and expenditure other than— 3[* * * * * *] (ii) income and expenditure to be received or incurred by reason of the transfer to the corporation of the powers, duties, assets and liabilities of the Board of Trustees for the Improvement of the City of Bombay constituted under the City of Bombay Improvement Trust Transfer Act, 1925 (Bom. XVI of 1925)4 [or for any of the other purposes of Chapter XX-A]; 5[* *] (iii) income and expenditure in respect of the 6[Brihan Mumbai Electric Supply and Transport Undertaking;] 7[(iv) income and expenditure for, or in connection with, the purposes of clause (q) of section 61;] 8[(v) income and expenditure for, or in connection with, the purposes of Chapters IX and X;] (b) Budget Estimate “B” of the income and expenditure of the corporation for the next official year to be received and incurred by reason of the transfer to the corporation of the said powers, duties, assets and liabilities 9[or for any of the other purposes of Chapter XII-A]; 10[* * * * * *] (2) In budget estimate “A” the 11[Standing Committee] shall— (a) propose with reference to the provisions of Chapter VIII, the levy of municipal taxes at such rates 12[* * *] as they shall think fit; (b) provide for the payment, as they fall due, of all sums and of all instalments of principal and interest for which the corporation may be liable under this Act other than sums and instalments as aforesaid (i) for which the corporation but for the enactment of the City of Bombay Municipal (Amendment) Act, 1933 (Bom. XIII of 1933), would not have been liable and (ii) for which the corporation may be liable, in carrying out the duties imposed upon them by clause (i) of section 61 13[and (iii) for which the corporation may be liable by reason of the acquisition, extension, administration, operation and maintenance of the 14[Brihan Mumbai Electric Supply and Transport Undertaking ];] 15[* * * * * *] 16[(v) for which the corporation may be liable by reason of the construction of school buildings;] (c) allow for an appropriation to budget estimates “B” of the sum estimated, revised as they shall think proper, under clause (d) of sub-section (2) of section 125; 1[* * * * * * *] 2[(c-2) allow for appropriation to budget estimate “E” of the sum estimated revised as they shall think proper, under clause (c) of section 126C 3[and such additional sum estimated under clause (c-1) of that section and revised, as they shall think proper ];] (d) allow for a cash balance at the end of the said year of not less than one lakh of rupees. (3) In budget estimate “B” the 4[Standing Committee] shall, if necessary, make proposals to meet any deficit in such budget estimate by borrowing: Provided that the 5[Standing Committee] shall not make any proposal to borrow for that purpose a sum of more than twenty lakhs of rupees. 6[* * * * * * *] (4) The 7[Commissioner] shall cause the budget estimates, finally approved by the 8[Standing Committee], 9[to be printed or corrected, and shall not later than the 10[first day of March], forward a printed or corrected copy] thereof to the usual or last known local place of abode of each councillor.