154. Preparation of budget estimate of Municipality.
(1)The Chief Officer of Municipality shall prepare in each year a budget estimate along with an Establishment Schedule of the Municipality for ensuing year, which shall be an estimate of the income and expenditure of the Municipality.(2)In the case of the Municipal Corporation or a Class 'A' or a Class 'B' Municipal Council, the Chief Officer shall, -(a)submit, not later than thirty-first day of December each year, the budget estimate so prepared to the Standing Committee for its consideration;(b)while submitting the budget estimate to the Standing Committee, append thereto a copy of the Establishment Schedule of the Municipal Corporation or the Class 'A' or the Class 'B' Municipal Council, as the case may be; and(c)place, not later than the fifteenth day of January of each year, before the Municipal Corporation or the Class 'A' or the Class 'B' Municipal Council, as the case may be, the budget estimate, and the Establishment Schedule, along with the recommendations of the Standing Committee thereon, if any.(3)In the case of Class 'C' Municipal Council or a Nagar Panchayat, the Chief Officer of the Municipality shall place before Class 'C' Municipal Council or Nagar Panchayat, as the case may be, not later than fifteenth day of January in each year, the budget estimate prepared under sub-section (1) along with a copy of the Establishment Schedule of the Municipality.(4)The Budget Estimate and the Establishment Schedule, shall be prepared in such form, in such manner and containing such particulars as may be prescribed.(5)The statement referred to in sub-section (2) of section 173 shall be enclosed with the budget estimate.
