(1)

If it shall at any time during any official year appear to the Corporation, upon the representation of [the Standing Committee or the Brihan Mumbai Electric Supply and Transport Committee, that, notwithstanding any reduction of budget grants that may have been made by the appropriate committee] under section 133, the income of the municipal fund or the [Brihan Mumbai Electric Supply and Transport Fund] [These words were substituted by Maharashtra 25 of 1996, (w.e.f. 4.9.1996).], as the case may be, during the said year will not suffice to meet the expenditure sanctioned in the budget estimates of the said year as so reduced and to leave at the close of the year a cash balance of not less than one lakh of rupees in the case of either the municipal fund or the [Brihan Mumbai Electric Supply and Transport Fund] [These words were substituted by Maharashtra 25 of 1996, (w.e.f. 4.9.1996).], it shall be incumbent on the Corporation to sanction forthwith any measure which shall be necessary for proportioning the year's income to the expenditure:

[* * * * *] [The proviso was deleted by Maharashtra 1 of 1994, Section 10.]

(2)

For this purpose the Corporation may diminish the sanctioned expenditure of the year, so far as it may be possible so to do with due regard to the provision of this Act or to the obligation pertaining to the [Brihan Mumbai Electric Supply and Transport Undertaking] [These words were substituted by Maharashtra 25 of 1996, (w.e.f. 4.9.1996).], or have recourse to supplementary taxation or a revision of fares and charges levied 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).], as the case may be [or, with the previous sanction of the State Government and subject to such terms and conditions (if any) as the Corporation may deem fit to impose, transfer the whole or any portion of surplus cash balance from any budget estimate to any other budget estimate as an additional grant to make good any deficit which has arisen or is likely to arise in the later budget estimate, whether covered by a budget grant or not.] [These words were added by Maharashtra 32 of 1966, Section 5.]]

Scrutiny and Audit of Accounts