Section 167(2) in Karnataka Municipal Corporations Act, 1976
(2)In such budget estimate, the standing committee shall,-(a)provide for the payment, as they fall due of all instalments of principal and interest for which the corporation may be liable on account of loans;(b)provide for the payment as it falls due, of any amount towards contributions, fees or such other amounts as may be payable by the corporation to the Government;(c)allow for a cash balance at the end of the year of not less than one lakh of rupees under General Account Revenue.
