State Act

The Mumbai Municipal Corporation Act.

1[134. Re-adjustment of income and expenditure to be made by the corporation during course of official year whenever necessary.— (1) If it shall at any time during any official year appear to the Corporation, upon the representation of 2[the Standing Committee or the Brihan Mumbai Electric Supply and Transport Committee, that notwithstanding any reduction of budget grants that may have been made by the appropriate committee] under section 133, the income of the municipal fund or the 3[Brihan Mumbai Electric Supply and Transport Fund], as the case may be, during the said year will not suffice to meet the expenditure sanctioned in the budget estimates of the said year as so reduced and to leave at the close of the year a cash balance of not less than one lakh of rupees in the case of either the municipal fund or the 4[Brihan Mumbai Electric Supply and Transport Fund], it shall be incumbent on the Corporation to sanction forthwith any measure which shall be necessary for proportioning the year income to the expenditure. 5[* * * * * *] (2) For this purpose the Corporation may diminish the sanctioned expenditure of the year, so far as it may be possible so to do with due regard to the provision of this Act or to the obligation pertaining to the 6[Brihan Mumbai Electric Supply and Transport Undertaking, or have recourse to supplementary taxation or a revision of fares and charges levied in respect of the Bombay Electric Supply and Transport Undertaking], as the case may be 7[or, with the previous sanction of the State Government and subject to such terms and conditions (if any) as the Corporation may deem fit to impose, transfer the whole or any portion of surplus cash balance from any budget-estimate to any other budget-estimate as an additional grant to make good any deficit which has arisen or is likely to arise in the latter budget-estimate, whether covered by a budget grant or not].