(1)

The [Standing Committee] [These words were substituted for the words 'Mayor-in-Council' by Maharashtra 27 of 1999, Section 64(a)(i), (w.e.f. 23-4-1999).] shall, on or as soon as may be after the [fifth day of February] [These words were substituted for the words 'first day of March' by Maharashtra 21 of 1989, Section 26(a).] consider the said estimates of [the Commissioner] [These words were substituted for the words 'the Member-in-Charge' by Maharashtra 27 of 1999, Section 64(a)(ii), (w.e.f. 23-4-1999).], After having obtained from [the Commissioner] [These words were substituted for the words 'the Member-in-Charge' by Maharashtra 27 of 1999, Section 64(a)(ii), (w.e.f. 23-4-1999).] such further information, if any, as it shall think fit to seek, and having regard to all the requirements of this Act, the [Standing Committee] [These words were substituted for the words Mayor-in-Council by Maharashtra 27 of 1999, Section 64(a)(i), (w.e.f. 23-4-1999).] shall frame therefrom, subject to such modifications and additions therein or thereto as it thinks fit, a budget estimate to be called budget estimate G of the income and expenditure for the next year to be received and incurred for the purposes of Chapters IX and X.

(2)

In budget estimate G , the [Committee] [These words were substituted by Maharashtra 27 of 1999, Section 64(b), (w.e.f. 23-4-1999).] shall propose the levy of water tax, water benefit tax, sewerage tax and sewerage benefit tax (in place of former water and halalkhor taxes) at such rates, as would in the opinion of the [Committee] [These words were substituted by Maharashtra 27 of 1999, Section 64(b), (w.e.f. 23-4-1999).] bring in adequate revenue for meeting the expenditure and all other obligations for which the Corporation may be liable for the purposes of Chapters IX and X.

(3)

The [Municipal Secretary] [These words were substituted for the words 'Member-in-Charge' by Maharashtra 27 of 1999, Section 64(c)(I), (w.e.f. 23-4-1999).] shall cause the budget estimate G as finally approved by the [the Standing Committee] [These words were substituted for the words 'the Mayor-in-Council' by Maharashtra 27 of 1999, Section 64(c)(il), (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 12(b).], forward a printed or corrected copy] thereof to the usual or last known local place of abode of each Councillor].