Section 137(1) in The Orissa Municipal Corporation Act, 2003
(1)The Commissioner shall; in consultation with the Heads of Departments of Corporation, prepare and submit to the Standing Committee on Taxation, Finance and Accounts on or before the 1st day of January, each year, a budget containing a detailed estimate of income and expenditure for the ensuing year, and if he is of the opinion that it is necessary or expedient to vary the taxation or to raise loans, he shall submit his proposals in regard thereto and such Standing Committees shall, in consultation with other standing committees finalise the budget estimate and submit the same with its recommendations, if any, to the Corporation on or before the twenty eighth day of January each year.
