(1)The Municipality shall consider the budget estimate and the recommendations, If any, of the Empowered Standing Committee thereon, and shall, by the fifteenth day of March in each year, adopt the budget estimate for the ensuing year with such changes as it may consider necessary, and submit the budget estimate so adopted to-(a)the State Government, in the case of a Municipal Corporation,(b)the Director of Local Bodies," in the case of a Class 'A' Municipal Council, and(c)the Regional Deputy Director of Local Bodies, in the case of a Class 'B' Municipal Council, a Class 'C' Municipal Council or a Nagar Panchayat.(2)The budget estimate received by the State Government or the Director of Local Bodies or the Regional Deputy Director of Local Bodies, as the case may be, under sub-section (1) shall be returned to the Municipality before the thirty-first day of March of that year with or without modifications of the provisions relating to subventions by the State Government.
