Section 131 in The Calcutta Municipal Corporation Act, 1980
131. Annual Budget of the Corporation. -
(1)The Corporation shall, on or before the 22nd day of March in each year, adopt for the ensuing year a budget estimate which shall be the estimate of the receipts and the expenditure of the Corporation to be received and incurred on account of the municipal government of Calcutta.(2)The budget estimate shall separately state the income and the expenditure of the Corporation to be received and incurred in terms of the following accounts:-(a)the Water-supply, Sewerage and Drainage Account,(b)the Road Development and Maintenance Account,(c)the Bustee Service Account,(d)the Commercial Projects Accounts, and(e)the General Account.(3)The budget estimate shall state the rates at which various taxes, surcharges, cesses and fees shall be levied by the Corporation in the year next following.(4)The budget estimate shall state the amount of money to be raised as loan during the year next following.(5)The Mayor shall present the budget estimate to the Corporation on the 15th day of February in each year or as soon thereafter as possible.(6)The budget estimate shall be prepared, presented and adopted in such form and in such manner, and shall provide for such matters, as may be prescribed.
