Section 126 in The Mumbai Municipal Corporation Act, 1888
126. [ Budget estimates to be prepared by the [Standing Committee] [Section 126 was substituted for the original section by Bombay 13 of 1933, Section 32.].
(1)The [Standing Committee] [These words were substituted by Maharashtra 27 of 1999, Section 58(a), (w.e.f. 23-4-1999).] shall, on or as soon as may be after each [fifth day of February] [These words were substituted for the words 'first day of March' by Maharashtra 21 of 1989, Section 22(a).] consider the estimate and proposals of the [Commissioner] [These words were substituted for the words 'The Member-in-Charge' by Maharashtra 27 of 1999, Section 58(b) and (c), (w.e.f. 23-4-1999).] and after having obtained from the [Commissioner] [These words were substituted for the words 'The Member-in-Charge' by Maharashtra 27 of 1999, Section 58(b) and (c), (w.e.f. 23-4-1999).] such further detailed information, if any, as they shall think fit to require, and having regard to all the requirements of this Act, shall frame there from subject to such modifications and additions therein or thereto as they shall think fit, [two budget estimates] [These words were substituted for the words 'four budget estimates' by Maharashtra 1 of 1964, Section 6(a)(i).] as follows :-(a)[ Budget Estimates"A" - of the income and expenditure other than - [Clause (a) was substituted for the original by Bombay 7 of 1950, Section 16(1)(b).](i)[ * * * * * *](ii)income and expenditure to be received or incurred by reason of the transfer to the Corporation of the powers, duties, assets and liabilities of the Board of Trustees for the improvement of the City of Bombay constituted under the City of Bombay Improvement Trust Transfer Act, 1925 [or for any of the other purposes of Chapter XX-A] [These words were inserted by Bombay 34 of 1954, Section 8(1).] [* * *] [The word 'and' was deleted by Bombay 48 of 1950, Section 56(1).].(iii)income and expenditure in respect of the [Brihan Mumbai Electric Supply and Transport Undertaking] [These words were substituted by Maharashtra 25 of 1996, (w.e.f. 4.9.1996).];(iv)[ income and expenditure for, or in connection with, the purposes of clause (q) of section 61] [Paragraph (iv) was inserted by Bombay 48 of 1950, Section 56(1).];(v)[ income and expenditure for, or in connection with, the purposes of Chapters IX and X] [Paragraph (v) was inserted by Maharashtra 34 of 1973, Section 12.]];(b)Budget Estimate 'B' of the income and expenditure of the Corporation for the next official year to be received and incurred by reason of the transfer to the Corporation of the said powers, duties, assets and liabilities [or for any of the other purposes of Chapter XII-A] [These words were inserted by Bombay 34 of 1954, Section 8(2).].[* * * * *] [Clauses (b1) and (b2) were deleted by Maharashtra 1 of 1964, Section 6(a)(iii).](2)In budget estimate 'A' the [Standing Committee] [These words were substituted by Maharashtra 27 of 1999, Section 58, (w.e.f. 23-4-1999).] -(a)propose with reference to the provisions of Chapter VIII, the levy of municipal taxes at such rates, [***] [Deleted 'and in the case of octroi on such articles' by Maharashtra Act No. 42 of 2017, dated 29.5.2017.] as they shall think fit.(b)provide for the payment, as they fall due, of all sums and of all instalments of principal and interest for which the Corporation may be liable under this Act other than sums and instalments as aforesaid (i) for which the Corporation but for the enactment of the City of Bombay Municipal (Amendment) Act, 1933, would not have been liable and (ii) for which the Corporation may be liable, in carrying out the duties imposed upon them by clause (r) of section 61, [and (iii) for which the Corporation may be liable by reason of the acquisition, extension, administration, operation and maintenance of the [Brihan Mumbai Electric Supply and Transport Undertaking] [This portion was added by Bombay 4 of 1948, Section 28.];] [* * * *] [Sub-clause (iv) was deleted by Maharashtra 1 of 1964, Section 6(b)(i).] [(v) for which the Corporation may be liable by reason of the construction or school buildings;] [This portion was added by Bombay 48 of 1950, Section 56(2).](c)allow for an appropriation to budget estimate 'B' of the sum estimated revised as they shall think proper, under clause (d) of sub-section (2) of section 125;(c1)[* * * * * * *] [Clause (c1) was deleted by Maharashtra 1 of 1964, Section 6(d)(ii).](c2)[ allow for appropriation to budget estimate 'E' of the sum estimated, revised as they shall think proper, under clause (c) of section 126C [and such additional sum estimated under clause (c1) of that section and revised, as they shall think proper] [Clause (c2) was inserted by Bombay 48 of 1950, Section 56(2).];](d)allow for a cash balance at the end of the said year of not less than one lakh of rupees.(3)In budget estimate B the [Standing Committee] [hese words were substituted by Maharashtra 27 of 1999, Section 58, (w.e.f. 23-4-1999).] shall, if necessary, make proposals to meet any deficit in such budget estimate by borrowing:Provided that the standing committee shall not make any proposal to borrow for that purpose a sum of more than twenty lakhs of rupees.[* * * * * *] [Sub-sections (3A) and (3B) were deleted by Maharashtra 1 of 1964, Section 6(c).](4)The [Commissioner] [These words were substituted by Maharashtra 27 of 1999, Section 58, (w.e.f. 23-4-1999).] shall cause the budget estimates, as finally approved by the [Standing Committee] [hese words were substituted by Maharashtra 27 of 1999, Section 58, (w.e.f. 23-4-1999).], [to be printed or corrected, and shall not later than the [first day of March] [This portion was substituted for the portion beginning with to be printed and ending with a printed copy by Maharashtra 70 of 1975, Section 8(b).] forward a printed or corrected copy] thereof to the usual or last known local place of abode of each councillor.]
