- [The Commissioner] [These words were substituted for the words 'The Member-in-charge' by Maharashtra 27 of 1999, Section 57(a) & (c), (w.e.f. 23-4-1999).] shall, on or before each [fifth day of February] [These words were substituted for the words 'first day of March' by Maharashtra 21 of 1989, Section 21.] have prepared and lay before [the Standing Committee in such form as the said committee] [These words were substituted by Maharashtra 27 of 1999, Section 57(b), (w.e.f. 23-4-1999).] shall from time to time approve,-

(1)

(a) an estimate of the expenditure which must or should, in his opinion be incurred by the Corporation in the next ensuing official year, other than -

(ii) expenditure to be incurred by reason of the obligations imposed on the Corporation arising out 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 purposes of Chapter XII-A] [These words were inserted by Bombay 34 of 1954, Section 7(1).]; and

(iii) expenditure to be incurred on account 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) [ expenditure to be incurred for the purposes of clause (q) of section 61;] [Sub-clause (iv) was inserted by Bombay 48 of 1950, Section 55(1).]

(v) [ expenditure to be incurred for the purposes of Chapters IX and X] [Paragraph (v) was inserted by Maharashtra 34 of 1973, Section (11)(a).];

(b) an estimates of all balances, if any (other than balances shown in the [accounts maintained under sections [123A [* *] [This portion was substituted for the portion account maintained under section 123A by Bombay 7 of 1950, Section 15(1)(b).] and 123C] which will be available for re-appropriation of expenditure at the commencement of the next ensuing official year;

(c) an estimate of the corporation's receipts and income for the next ensuing official year other than from taxation [and from the [Brihan Mumbai Electric Supply and Transport Undertaking] [These words were inserted by Bombay 48 of 1948, Section 27.]] and other than that referred to [* *] [The portion 'in clause (c) of sub-section (1A) and' was deleted by Maharashtra 1 of 1964, Section 5(a)(iii).] in clause (c) of sub-section (2) [and in clause (d) of section 126] [This portion was inserted by Bombay 48 of 1950, Section 55(3).] [and in section 126E] [This portion was inserted by Maharashtra 34 of 1973, Section 11(b).];

(cc) [ an estimate of the amounts due to be transferred during the next ensuing official year to the municipal fund under the provisions of sections 460KK and 460LL;] [This clause was inserted by Bombay 48 of 1948, Section 27.]

(d) a statement of proposals as to the taxation which it will, in his opinion, be necessary or expedient to impose under the provisions of this Act in the next ensuing official year;

(1A)

[* * * * *] [Clause (1A) was deleted by Maharashtra 1 of 1964, Section 5(b).]

(2)

(a) an estimate of the expenditure which must or should, in his opinion, be incurred by the Corporation in the next ensuing official year by reason of the obligations imposed upon the Corporation arising out 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 purposes of Chapter XII-A] [These words, figures and letter were inserted by Bombay 34 of 1954, Section 7(2)(a).];

(b) an estimate of all balances, if any, in the account maintained under section 122A, which will be available for re-appropriation or expenditure at the commencement of the next ensuing official year;

(c) an estimate of the Corporation's receipts and income for the next ensuing official year -

(d) an estimate of three times the amount of the net estimated realisations of the Corporation in the then current financial year under the head of general tax (including arrears and payments in advance) divided by the rate fixed for general tax for the then current financial year;

(e) [ an estimate of the Corporation's receipts and income, other than receipts and income referred to in other clauses of this sub-section arising from or relating to, transaction connected with the obligations imposed upon the Corporation by the transfer to the Corporation of the powers, duties, assets and liabilities of the said Board of Trustees or with the exercise of the power and duties conferred or imposed upon the Corporation by Chapter XII-A including grants from the State Government] [Sub-clause (e) was substituted for the original by Bombay 34 of 1954, Section 7(2)(c).].]